Commodites Plunge To New 16 Year Low; Oil Slides On Venezuela Warning, Soaring Dollar

Monday, November 23, 2015
By Paul Martin

by Tyler Durden
ZeroHedge.com
11/23/2015

A big catalyst for the ongoing collapse in the Bloomberg commodity index which just hit a fresh 16 year low, is the relentless surge in the dollar, with the DXY rising as high as 99.98 the highest since April, as a result of rising prospects for a December U.S. rake hike (odds are now at 70%, up from 36% a month ago) boosting currency differentials and flows into the USD, making commodities more expensive for buyers in other currencies.

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