Greenback Drops as Commodities Surge
Greenback Drops as Commodities Surge The dollar fell against most key currencies Thursday on surging commodity prices as well as risks for a US recession indicated by the Conference Board US LEI dropping a more-than-expected 0.7% in July. Oil prices jumped nearly 5% as geopolitical tensions increased amid the Russian-Georgian conflict. The Australian and Canadian dollars rose as gold and oil surged. The European currencies gained as the dollar’s momentum slowed and the other major currencies
Original post by Forex Trading Strategies