Plunging Dollar Drives Commodity Prices Higher
Crude oil surged more than $3, to a record high above $98.03 per barrel. Traders continued to speculate on the possibility that dollar pegs in a number of oil rich countries will be broken, or altered.
U.S. treasury prices declined, yields, which hit a two year low yesterday, moved higher.
Gold, which recently hit a 3-week low, recovered on Tuesday, along with silver, U.S. dollar. Copper also rose today.
Wheat hit a 2-week high, and coffee rose.
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