Currency update

Back in March, with oil trading around $98, a cheeky trader put a trade through that triggered a level of $100, more to gain lifetime fame as the first man to hit $100 than for any financial gain, and the market looked on in disdain as the price dropped back to $96. Today, oil trades at $130, with forecasts of $150, $175 and even $200. This huge move higher, which shows no sign of abating, has been bad news for the dollar and has caused its recent rally to slow as the world frets how this will affect the US consumer. Inflation is now the key word, and every major central bank from the B...