13 Oct, 23

Unusual Positive Link Emerges Between Dollar And Oil

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Oil prices and the U.S. dollar have been moving in the same direction for over a month—an unusual pattern considering the typical inverse relationship between the commodity and the greenback.  The positive correlation—with both the dollar and crude oil prices moving higher—is not so rare, but it sure isn’t the usual inverse link that has been seen more often than not for decades.  The central banks and the central bank of crude oil supply, OPEC+, are responsible for the current positive correlation, which analysts expect…

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