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Oil and the dollar are doing something they have only done 11 times in the past 35 years
Oil prices and the U.S. dollar are rallying in tandem—a dynamic that has only occurred 11 times since 1983, and it’s drawing the attention of market participants attempting to assess its significance. West Texas Intermediate crude oil traded on the New York Mercantile Exchange (CLM18.NYM), which is up 12.2% in the past month, according to FactSet data, has shaken off a 3.6% rally in the previously battered dollar, as measured by the ICE U.S. Dollar Index (DX), according to FactSet data. The coordinated run-up is rare because a stronger dollar makes commodities priced in the currency more expensive to users of other currencies.
https://finance.yahoo.com/m/88b4c9d...4/oil-and-the-dollar-are-doing.html?.tsrc=rss
Oil prices and the U.S. dollar are rallying in tandem—a dynamic that has only occurred 11 times since 1983, and it’s drawing the attention of market participants attempting to assess its significance. West Texas Intermediate crude oil traded on the New York Mercantile Exchange (CLM18.NYM), which is up 12.2% in the past month, according to FactSet data, has shaken off a 3.6% rally in the previously battered dollar, as measured by the ICE U.S. Dollar Index (DX), according to FactSet data. The coordinated run-up is rare because a stronger dollar makes commodities priced in the currency more expensive to users of other currencies.
https://finance.yahoo.com/m/88b4c9d...4/oil-and-the-dollar-are-doing.html?.tsrc=rss
