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Monday, May 9, 2011

"Dead Cat Bounce" Today? -- Oil Up Today on Weaker Dollar

Link here.

Unless I missed it, the article did not specify how much weaker the dollar got today.

Last week on the day when oil had the most precipitous/spectacular drop in price, the dollar strengthened by ... drum roll ... two cents. This was shortly after the dollar hit a three-year low.

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