Oil Story Of Dollar

Fallen crude oil prices helped the dollar to recover yesterday, but remained shaky anyway because of uncertainty about the outcome of the US presidential election.

Lehman Brothers? vice-president Daniel Tenengauzer said: "For the dollar, it?s really an oil story. A number of crude oil contracts are basically dropping like a stone through some key levels. As a result, bond yields are rising and the dollar is rising as well."

Against the yen, the dollar was trading near session highs at 106.54 yen, up about 0.7 per cent on the day. Against the Swiss franc, the dollar was up about 0.8 per cent SFr1.2044.