weak dollar

This article explains the weak dollar, the power of China over the dollar, and how current Fed policy (almost 0% interest to banks) is a windfall for the banks--and explains why Geithner said the US wanted a strong dollar.

What's causing the surge? Blame the weak dollar and increasing global demand for crude oil, plus speculative trading, experts say.

Since oil is bought and sold in dollars, it's cheaper when the dollar is down. That in turn draws speculators, who drive up the price.

Oil prices climbed Tuesday as the combination of a weaker dollar and stronger stock market outweighed concerns about weak demand and vast supplies of crude.

Chevron, like other oil companies, was hurt by plunging demand for crude oil and gasoline . It also said its net income suffered from a weak dollar.