Colgate-Palmolive looks like a bright and shiny weak-dollar play

As the U.S. dollar continues to swoon anything denominated in greenbacks is getting a boost. Just witness what's happening in the commodity markets, where gold topped $1,100 an ounce Monday and oil is back flirting with 80 bucks a barrel.

That's made mining and energy stocks popular bets on the flaccid greenback -- but also kind of a crowded trade these days. For an alternative, longer-term wager on a weak dollar (and emerging-market growth), consumer products stalwart Colgate-Palmolive (CL) looks good.