Summer Rally: King Dollar Roars Back, Oil Plunges -- MrSwing

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Summer Rally: King Dollar Roars Back, Oil Plunges
Aug 08, 2008

Dr. Mark J. Perry

CARPE DIEM
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The U.S. Dollar index for major currencies reached its highest level this year, and is at the highest level since December 21, 2007 (see chart above). Oil fell today by almost $5 per barrel in the spot market to $112.43 (brent spot) and $115.20 (WTI) and below $115 in the futures market. Stock market rose by +300 points.