WSJ Fed article helps dollar, depresses oil
The euro lost nearly two cents against the dollar this morning, which would be its biggest one-day decline in weeks if it holds up. Oil fell back toward $117 a barrel.. The Fed said via the Wall Street Journal that it might be near the end of short-term interest rate cuts for now. Low rates have killed the dollar and driven up the price of crude, which acts as a dollar hedge. U.S. crude inventories also rose more than projected.
