The U.S. will not weaken the dollar in order to boost its exports, Treasury Secretary Timothy Geithner promised. “It is not going to happen in this country,” Geithner told Silicon Valley business leaders of devaluing the dollar…
Some OPEC members want oil prices to rise to $100 a barrel to offset the decline in the dollar.
The value of the dollar, which has slipped 13% since June against major world currencies, means that the “real price” of oil is about $20 less than current levels, Venezuela’s Energy and Oil Minister Rafael Ramirez said after Thursday’s OPEC meeting in Vienna.
OPEC, which accounts for…
Continue reading Some OPEC Members Push for $100 a Barrel Oil
Some OPEC Members Push for $100 a Barrel Oil originally appeared on DailyFinance on Fri, 15 Oct 2010 07:57:00.
Filed Under: Energy, Technology, Green, Market News
The euro has posted its biggest quarterly gain in eight years, but billionaire investment guru Warren Buffett is worried about Europe’s common currency. Despite the E.U.’s trillion-dollar bailout fund, he’s not sure the Contine…
The U.S. dollar traded near an eight-month low against the euro on bets that the Federal Reserve will signal it is willing to buy more government debt in order to stimulate the economy.
The U.S. dollar traded at $1.3940 per euro as of 11:08 a.m. in London, Bloomberg News reported. It fell to $1.4012 earlier today and reached $1.4029 on Oct. 7, the weakest since Jan. 28.
Weak…
Continue reading U.S. Dollar Trades Near 8-Month Low on Fed Bets
U.S. Dollar Trades Near 8-Month Low on Fed Bets originally appeared on DailyFinance on Mon, 11 Oct 2010 08:09:00.
Filed Under: Economy, People, Investing, Credit, Currency, Market News
Investors take note: Despite the calls for order, national policymakers are dealing with an increasingly haphazard scenario loaded with counterproductive results and unintended consequences. The result could be a slide toward p…