If oil is traded in dollars, why would the value of the dollar make a difference? Seems that it would just make oil ‘cheaper’ for those with currencies of higher value than the dollar.
If oil is traded in dollars, why would the value of the dollar make a difference? Seems that it would just make oil ‘cheaper’ for those with currencies of higher value than the dollar.Because a cheaper dollar buys less oil. Energy is the perhaps the most reliable indicator of the value of any currency.