The dollar isn’t in an uptrend. It’s in a downtrend. It bounces higher for some days/weeks, etc. at a time, but within the context of an overall downtrend.
And the CRB Commodity Index has completed its 5-waves down within wave C and has broken into a new uptrend (green arrow).
So, we’ll either have rising inflation and a rising economic recovery as things continue to reopen
rising inflation and a falling economy due to the ripple effect from the economy being closed for too long. In that instance, it would be stagflation (increasing inflation with stagnating economic growth).