US Dollar loses ground, gold and oil rise
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Manufacturing News, Source : TheManufacturer.com
Published : 27 Jan 2003 22:07
Fear of possible war sent the US dollar to its lowest value in three years this week at $1.0843 per euro, versus last week’s $1.0746.
The economic outlook both here and abroad is still somewhat in doubt, said Donald Straszheim, president of Straszheim Global Advisors. It’s hard to find companies that are aggressively hiring or working on big expansion plans, and many workers are nervous; the feeling is if you have a job, you’re OK, if you don’t you’re not, he said.
On a more positive note, gold increased $3.70 a troy ounce to $368.40, and crude oil increased $1.03 to $33.28 a barrel.
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