Below is a chart and excerpt from today's Early Look written by Macro analyst Ryan Ricci.

A strong dollar will increase the buying power of the U.S. and decreases the buying power of foreign currency. Although, you typically see the strongest impact on emerging markets. Specifically, LATAM where $ILF has a -0.635 correlation to the USD since 2003. See the chart of the day.

CHART OF THE DAY: US Dollar In Relation To Emerging Markets - ricc