The dollar drives commodity prices to new record highs |
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On Thursday, the weak US dollar gave the commodity prices a very helpful fillip. The dollar is weaker than ever against the euro after the Chairman of the Federal Reserve did nothing in his speech to budge market expectations of additional interest rate cuts. Investors have pumped capital into the commodity markets, and prices have touched or broken through record levels in several markets. Oil is going from strength to strength and broke though USD 103 for the first time. This means that it
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