Forex - Dollar rose Friday helped by lower Crude Oil prices and Warren Buffer comments. - Forex Forum

 
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> Forex - Dollar rose Friday helped by lower Crude Oil prices and Warren Buffer comments.
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post Aug 25 2008, 1:00
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The Dollar surged on Friday, recovering from the previous day's losses, as gloomy British growth data backed views of a slowing global economy and raised prospects of interest rate cuts outside the United States.

A sharp drop in US crude oil prices to below $115 per barrel and comments by influential investor Warren Buffett that he has no bets against the Dollar also added to the US currency's upward momentum.

Federal Reserve Chairman Ben Bernanke's comments that a stable Dollar and falling commodities should help slow inflation this year and next. His remarks on Friday prompted analysts to reduce expectations of a US interest rate increase this year.

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