Jim Cramer says the U.S. dollar’s decline helped drive Tuesday’s market gains

CNBC's Jim Cramer credited the autumn successful the U.S. dollar with helping stocks adjacent higher connected Tuesday.

"It's clip to admit that the dollar's successful charge. Today, astatine least, the dollar rally took a break, which means the bears took a break, too. If the greenback keeps pulling back, possibly they'll spell into hibernation," helium said.

Stocks gained connected Tuesday for a 3rd consecutive trading session, buoyed successful portion by a decline successful enslaved yields and a weaker dollar.

The worth of the U.S. dollar has surged successful caller months, driven by the Federal Reserve's involvement complaint hike run and the beardown U.S. economy. 

The dollar's spot has wounded companies that execute concern overseas, since their equilibrium sheets are taxable to unfavorable speech rates.

At the aforesaid time, "bond yields bespeak whether Wall Street expects much symptom from the Fed, which is wherefore it's truthful bully erstwhile some of these things spell down," Cramer explained.

He added that the dollar was owed for a decline, according to charts analysis by DeCarley Trading's Carley Garner. And portion the cardinal slope could beryllium looking to dilatory hikes successful December, according to a study successful The Wall Street Journal, it remains unclear whether the market's caller spot volition continue, Cramer said.

"The marketplace needs clip to adjust, and the Fed doesn't privation to stone the vessel excessively aggressively close earlier the [midterm] election," helium said.