Forex | Forex | Dollar Drops and Oil Pops (31/08/2009 07:09:12)

Dollar Drops and Oil Pops

Dollar drops and oil pops. Once again a break in oil prices gets reversed on a weakening dollar. Going into the trading day some went into it with a risk adverse posture. The dollar had firmed up in recent days as fears that the day’s economic reports might thwart a seven day stock-market rally and fears that the Federal Deposit Insurance Corporation and our nation’s largest banks might be in worse shape than we thought. Banking health is, believe it or not, a key factor in the price of oil. I


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