Stronger Dollar Causes Sell Off in Commodities

Posted by Patrick O'Connor on 7/23/08 5:51 am

The threat of higher interest rates from a Federal Reserve president and stronger-dollar rhetoric from Treasury Secretary Henry Paulson is extending a slide in commodity prices today.  Oil prices are down about 15% from their all time highs, wheat is down more than 40% since February, and the UBS Bloomberg Constant Maturity Commodity Index, which tracks 26 raw materials, is down more than 7% for the month.  Read More.

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• Comments (1)

Posted by aWriter on 7/23/08 7:48 pm

Good news. Maybe oil isn’t the new gold.

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