The dollar weakened versus its counterparts in Australia, New Zealand and Canada, as rising commodity prices boosted demand for currencies linked to raw materials exports.Oil hit $100 per barrel.
The U.S. currency fell against half of its 16 most-traded peers as U.S. economic reports indicated weaker-than-forecast growth, bolstering the Federal Reserve’s plan to keep U.S. interest rates low. The Canadian dollar reached parity with the greenback for the first time since Nov. 11. The Swiss franc strengthened to a record against the dollar as investors demand an alternative to the euro amid the region’s sovereign-debt crisis.
2 comments:
Oil is being sold at a very high price and why dollar is losing its stand ?
Currency Trading
With the decrease in dollar there is an increase in oil rates. This will also effect other currencies and other products of different countries as well.
Telecom News
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