Spencer Dale

Dollar Down Despite Concern over Libya

February 23, 2011

Libya’s turmoil, where Qaddafi clings to power, should help the dollar in two ways: by spawning generalized flight to the safety of Treasury securities and by raising concern about Euroland’s troubled southern tier, which imports most of Libya’s oil exports.  Nonetheless, the dollar fell overnight by 0.7% against sterling, 0.6% versus the euro, 0.5% against […] More