Is U.S. Dollar about to Experience Correction?

After about six years of faltering, the U.S. dollar has enjoyed a resurgence lately, as it's been on a significant upward run.

According to the New York dollar index, against the currencies of major trading partners the greenback has risen by 14 percent since the Bear Stearns fiasco.

More significant is the strength it has experienced against the euro, where it has climbed by 13 percent since hitting a $1.60 bottom a couple months ago.

Much of the upswing has come from investors moving their money to safer U.S. Treasury's, from stocks, bonds and real estate.

Some think there will be inevitable correction for the U.S. dollar soon, which could be precipitated by a jump in the price of oil or better news from emerging markets.

Even so, expectations are that Europe will probably cut rates some time in the next several months, and that should keep the U.S. dollar in a strong position in the near term.