AP ECON- EXTRACT #4

AP ECON- EXTRACT #4 - Oil Falls to Near $81 in Europe as...

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Unformatted text preview: Oil Falls to Near $81 in Europe as Traders Eye Stronger US Dollar Period 3 23 March 2010 Word Count: 664 The article that I researched for our last economics extract was an article that I found in the Los Angeles Times online database. The topic of this article is about the exchange rates and how trade is greatly affected by how strong or weak a country’s currency is. Not only does it share the importance of having a steady currency, but it updates us with the new prices of oil. The article compares the United States and Europe in our currencies and prices we are paying for this oil. This article addresses the different strengths of currencies and answers the question, “Which country has the stronger currency?” The article opens with a statement of the new price that United States must pay for oil along with the recent change in the currency strength. Author Pablo Gorondi writes, “ Oil prices fell to around $81 a barrel Tuesday as the U.S. dollar strengthened, making crude more expensive for investors with other currencies.” The importance of this statement is to show that the United States, although still battling a recession, is still strengthening and growing its dollar. As the United States grows its dollar, other countries will suffer because when they want to dollar....
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AP ECON- EXTRACT #4 - Oil Falls to Near $81 in Europe as...

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