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Figure 5. There are numerous causes for a weakened US dollar. Perhaps the most significant has been the drop in interest rates used to stimulate the economy as a result of the US housing crises. In addition, long term decline in the creation of real wealth coupled to balance of payments deficits have undermined the value of the dollar. Whatever the cause, the weakened dollar certainly plays a role in the recent price increases in oil. From Michelle Ross, Oil and Gas Investor, April, 2008.
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Figure 5. There are numerous causes for a weakened US dollar. Perhaps the most significant has been the drop in interest rates used to stimulate the economy as a result of the US housing crises. In addition, long term decline in the creation of real wealth coupled to balance of payments deficits have undermined the value of the dollar. Whatever the cause, the weakened dollar certainly plays a role in the recent price increases in oil. From Michelle Ross, Oil and Gas Investor, April, 2008.