dollar down and an oil word
The dollar is on the defensive against most majors as technical entries chimed in to take the bulls to the sideline to await further developments. Risk appetites were increasing and this gave no bullish direction to the dollar. The downhill slide for the dollar was a bit faster than one analyst had thought it would be, but a short-term rally doesn't look forthcoming.
I saw this on the melduke blog: from the Oil Drum: Only 14 out of 54 oil producing countries are still increasing their oil production. The days of cheap oil are over.
