International Energy –‘Guardian International–(Dollar Weakness Boosts Oil)…
PRLog (Press Release) –
Jun 20, 2009 – “Guardian International” analysts are reportedly baffled at complaints from US commentators who claim that the high oil price is unjustified.
Sources close to “Guardian International” analysts suggest that the US dollar has resumed its downtrend after unprecedented safe-haven inflows granted the world’s reserve currency a stay of execution following the collapse of Lehman Brothers.
The firm believes that as a modicum of confidence and risk appetite has recently returned to the market, the US dollar is being exchanged for assets with a greater potential for growth.
When asked whether the exhaustion of the recent equity rally would see investors return to holding dollars, the “Guardian International” source opined that there would inevitably be some interest in the greenback but that, in light of mounting concerns over the US Federal Reserve’s quantitative easing policies, there would almost certainly be many more investors turning to gold as a means with which to preserve their wealth.
The “Guardian International” source also suggested that the firm’s analysts expected the dollar index to test the 75 level by the end of 2009.
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