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Oil Prices Drop and US Dollar Rallies against Euro - What's Next?

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09-23-08, 05:50 PM

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Oil Prices Drop and US Dollar Rallies against Euro - What's Next?

The November NYMEX Crude Oil contract has fallen $2.70, while the US dollar has staged a short-term comeback against the Euro and Japanese Yen - underlining the currency's strong relationship to oil and other commodity prices. In fact, the year-long correlation between the Euro/US Dollar exchange rate and crude oil...

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