Home > Views > Blogs > Market Movers > When Oil Strength Isn't Dollar Weakness
EMAIL
PRINT
RSS
SHARE
TEXT SIZE:
SHARE
Send a copy to me

Separate multiple email addresses (max 20) with commas.

0/1500

Main
WSJ.com Will Go Free, Eventually   Good Old News
Jul 3 2008 10:42AM EDT

When Oil Strength Isn't Dollar Weakness

Barry Ritholtz asks:

Here's a question -- at what point does ECB Central Bank Chief Trichet realize that every time the ECB hikes rates, it pummels the dollar and sends oil higher?

The answer, it would seem, is "not today":

The euro fell against the dollar as European Central Bank President Jean-Claude Trichet signaled one interest-rate increase is enough to control inflation...
The euro dropped 0.7 percent to $1.5766 at 9:01 a.m. in New York, from $1.5882 yesterday.

Yep, the ECB hiked rates today and the dollar rose in response. You can blame today's rise in oil prices on many things, but dollar weakness ain't one of them.

See more in

Loading...

Add Your Comment

Required fields are marked with an asterisk (*)
Add a comment

Recent Blog Posts

Archive

Previous
Sep
2008
Next


Also in Portfolio.com
Most Read
Most Emailed
Recently Commented