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Dollar Slumps as U.S. Inflation Expectations Rise and Oil Surges

From bnnbloomberg.ca

The dollar fell against all its major developed-market peers Tuesday as a decision by major oil exporting countries to curb supply helped to lift crude, stocks rebounded and U.S. inflation expectations climbed. A move by West Texas crude above $50 a barrel helped to trigger a deeper selloff in the greenback, with the Australian dollar and other commodity-related currencies gaining the most. The Bloomberg Dollar Spot Index extended its decline to as much as 0.5%, taking it close to the nearly three-year low it touched on Monday. The U.S. currency was already under pressure as traders focused on the outcome of two key ... (full story)

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  • Category: Fundamental Analysis