Dollar New Lows, Oil and Gold New Highs
WSJ on the USD, its weak against everything:
The dollar’s problems didn’t stop with the euro. The greenback also reached a fresh 33-year low against Canada’s currency, a 23-year low against the Australian dollar and dipped to its weakest point in three months against the U.K. pound.
The US is doing everything it can to raise the price of oil. Is this some roundabout give away to ethanol producers?
The conflict between Turkey and Kurdish rebels in northern Iraq, combined with new U.S. sanctions against Iran announced Thursday, fueled further buying in overnight trade. Futures hit an all-time intraday high of $92.22 before retreating slightly to the $91 range.
The gold bugs and hard money crowd continue to have their day in the sun:
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Posted: October 26th, 2007 under Americas, Commodities, Currency, General, gold, oil.
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