Dollar run brings usd/cad unchanged, aided by Oil slumping

07 December 2009 @ 09:56 pm EDT

FXstreet.com (London) - Oil has seemingly taken a back seat after being one of the most tumultuous stories of 2009, from hitting highs of nearly 150$ to lows under 40$, finally settling now at around 75$. The oil market is in oversupply at the moment as a lack of sustains demand from a pressured global economy. Oil has typically held a negative correlation with dollar, and indeed Oil shed $1 on Friday and is currently trading at 74.01/06.

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