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Oil tumbled in Asian trade today as dollar strengthens on Fed move info
Oil tumbled in Asian trade today as dollar strengthens on Fed move at internet Business blog. Oil tumbled in Asian trade today on the stronger dollar as investors flocked to the safe-haven currency following the US central bank warned of significant downside risks towards the American economy.A strong greenback makes dollar-priced crude more costly to holders of other currencies, softening demand and resulting in lower prices.New York's main contract, West Texas Advanced for November delivery,
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