Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Dollar's Slide Pushing Oil Prices Higher

Economic data hammers the greenback as worries about US economy deepen

By Jim O'Neill, Newser User

Posted Feb 29, 2008 7:21 AM CST

(Newser) – The dollar continued its fall as unrelentingly dismal economic data eroded confidence in the US economy, Bloomberg reports. The greenback set a new low of $1.52 against the euro this morning and hit a three-year bottom against the Japanese yen. Oil surged more than... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Cops Shoot Naked Guy Eating Man's Face on Highway

Japanese Artist Serves Up Own Cooked Genitals

Bloomberg (Source Grid »)
Associated Press (Source Grid »)

Bush says US not headed into recession
Associated Press

Relationship between the dollar and oil is about to cool
Reuters

Winners and losers in the dollar's decline
BusinessWeek

Money

oil • recession • US economy • euro • yen • gas prices • crude oil • US dollar

More Newser Stories

Dollar Plummets to 15-year Low

Job loss data fuels panic about US economy

(NEWSER) - Panic over the state of the US economy pushed the dollar to a 15-year low against major currencies yesterday. The drop came on larger-than-expected July payroll declines, data one analyst called “simply horrific.” Many fear that the credit crunch will drive down consumer spending, igniting a recession. Investors accordingly increased bets that the Fed will drop rates, Reuters reports. More»

Dollar Hit as Emerging Economies Fight Inflation

$108 oil pushes gas prices higher

(NEWSER) - A weak US dollar continued to fuel surging commodity prices today, keeping oil near $108 a barrel and moving a gallon of gas to $3.225, with analysts predicting near $4 prices by spring, the Wall Street Journal reports. Stress on the greenback is coming from not only major but minor currencies, as developing nations fight inflation by relaxing currency controls. More»

Dollar Slides to Record Low; Oil Tops $102

Investors bet on Fed rate cut, driving euro up against US currency

(NEWSER) - The dollar declined against most major currencies and fell to its lowest level ever against the euro today as markets anticipated another rate cut from the Fed when it meets March 18, increasing the value of assets outside the US, Bloomberg reports. The dollar’s erosion pushed commodity prices up, with oil topping $102 a barrel for the first time. More»

$100 Oil Fuels Recession Fears

Speculation is driving oil up, and that's a concern for consumers, economists

(NEWSER) - Oil prices have jumped 16% in two weeks, and analysts tell the Christian Science Monitor the run-up couldn't come at a worse time. As the US economy flirts with recession, beleaguered consumers could end up spending their economic stimulus checks to cover even higher gas prices. The $101.32 per barrel oil gushed to yesterday is attributed to cuts in production and fears that OPEC may trim output further at its meeting next month More»

Oil Tops $99 as Dollar Sinks

Weak greenback and strong demand could send crude over $100 a barrel today

(NEWSER) - The price of oil hit a record high mere pennies from $100 a barrel and the dollar sunk to a new low in early trading today. Oil hit $99.29 but slipped back to $98.64. With cold weather hitting the US, and OPEC supplies limited, some analysts think oil prices could hit the $100- a-barrel milestone as early as today. The continued drop in the dollar against other currencies is helping fuel the rise. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Dollar's Slide Pushing Oil Prices Higher

Economic data hammers the greenback as worries about US economy deepen

oil • recession • US economy • euro • yen • gas prices • crude oil • US dollar

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Dollar Plummets to 15-year Low

Job loss data fuels panic about US economy

Dollar Hit as Emerging Economies Fight Inflation

$108 oil pushes gas prices higher

Dollar Slides to Record Low; Oil Tops $102

Investors bet on Fed rate cut, driving euro up against US currency

$100 Oil Fuels Recession Fears

Speculation is driving oil up, and that's a concern for consumers, economists

Oil Tops $99 as Dollar Sinks

Weak greenback and strong demand could send crude over $100 a barrel today

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?