USD’s rebound continued in Asian session on Monday. This sent commodities and other growth assets lower as they have recently ridden on the dollar’s weakness. Oil prices slipped for a third day. Extending Thursday’s reversal after faltering below 84.43 (a 5-monht high made on October 7), the front-month contract for WTI crude oil fell to as low as 80.56 today. Gold price lost ground as the dollar recovered and the benchmark contract plunged to 1356.2 today.
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Commodities Pull Back on USD’s Rebound. Anti-Dollar Trades Overdone
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