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USO - The Dollar And Oil Dominate Turbulent Markets
United States Oil Fund
The Saudi Riyal's peg to the dollar has long been a strategic choice, contributing to the economic growth of the Kingdom for more than 30 years. Indeed there is no other currency that could handle the vast ocean of daily oil trades that help to keep the world moving.
Because oil is traded in dollars, the currency and the commodity tend to be inversely related - that is to say they usually move in opposite directions. In past global economic downturns including this one we are experiencing right now, the dollar has gained against other