USD Slumps as Oil Spikes |
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8/21/2008 3:25 PM: EUR/$..1.4882 $/JPY..108.55 GBP/$..1.8764 $/CHF..1.0873 AUD/$..0.8790 $/CAD..1.0436 USD Slumps as Oil Spikes The dollar tumbled across the board in the Thursday session on the heels of a rally in oil, which jumped to its highest level in 2 ½-weeks to $121.94 per barrel. The spike higher in crude prices was prompted by a combination of heightened geopolitical uncertainty stemming from Russia’s decision to halt cooperation with NATO and warnings that Saudi Arabia may scale
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