FOREX-Euro below $1.45 as oil tumble strengthens dollar
The dollar extended its rally to fresh 2008 highs on Monday against a basket of currencies as oil’s startling fall toward $105 a barrel improved expectations of lower global inflation and non-U.S. interest rates.
Michael Klawitter, head of FX strategy said:
What does that mean? We will see mounting rate cut expectations, which means spreads will move in favour of the U.S. dollar and partly in favour of the yen.
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Tue, Sep 2, 2008
Post by Melissa Pistilli, Heavy Oil Senior Reporter