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Dollar Weakens against Major Currencies |
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Written by Top Ten List
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Wednesday, 09 September 2009 |
With the US Federal trade deficits reaching several trillion dollars just last month, this has somewhat created a domino effect on the US dollars. According to market analysts, they mentioned that the dollar has weakened considerably when compared to the UK pound and Euro dollar.
Although the US dollar has weakened, this somehow helped boost the price for crude oil in the country. Just until recently, the price for crude oil has hovered above the $70 mark, which also helped petroleum based companies, to make larger profit over the higher price.
Do you think that the US dollar will continue to weaken against major currencies around the world?
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