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The Federal Reserve has destroyed the dollar and inflated oil prices

The U.S. dollar fell sharply against global currencies including the Israeli shekel, after the speech of the Chairman of the Federal reserve system of the USA Janet Yellen.

Yellen’s decision to keep discount rate at level of 0,25%-0,5% was not a surprise for investors. The cause of the collapse of the dollar was the statement that in 2016 the rate will be raised twice, not four times, as previously assumed.

As a result, as of 12:00 p.m. Jerusalem time, the dollar against the shekel fell 1.4% to 3,84 shekels per dollar and against the Euro by 1% to 1,132 USD per Euro.

Oil prices rose 2% in addition to yesterday’s growth of 6%. Brent crude oil rose to 41,14 dollar, and crude oil – to 39,38 dollar.




The Federal Reserve has destroyed the dollar and inflated oil prices 17.03.2016

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