Thursday, March 13, 2008

Asian investors sees commodities as safe haven against the U.S. dollar

by Jo Black

Oil prices on March 13,200 rose to a fresh record high record above $110 a barrel even as Asian investors looks commodities as a safe haven.

It is learnt that Asian investor are more interested to invest in commodities against the US dollar, as a result the US dollar, in Asian continent has been recorded to a 12-year low against the yen and hit a record low against the euro amid concerns about the flagging U.S. economy.

Industry analysts believe the greenback’s decline is the reason crude futures have surged to new records in 11 of the past 12 sessions.

Commodities are likely to have been the key beneficiary of the aggressive Fed rate-cutting cycle, Citigoup said in its research note. Investors have rushed into commodities to hedge against inflation and the softening dollar.

 

 

 

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