Oil Extends Retreat, Buoys USD and Equities |
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7/17/2008 3:30 PM: EUR/$..1.5830 $/JPY..106.70 GBP/$..1.9990 $/CHF..1.0224 AUD/$..0.9693 $/CAD..1.0062 Oil Extends Retreat, Buoys USD and Equities The dollar rallied across the board in afternoon trading, jumping past the 107-level against the yen and pushing the sterling to 1.9950. Propping the currency higher today was a combination of a better-than-forecasted earnings report from JP Morgan, further pullback in the price of oil to beneath $130 per barrel and a sharply better than expected
Filed under: Fundamental
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