Investors Shun Commodities for Dollar

As attention turns to the European debt crisis and the question of a rescue for Ireland, investors are heading for the safety of the dollar. News that the People’s Bank of China is worried that China’s economy is expanding too rapidly cast a chill over global stock markets with commodities being especially hard-hit.

Oil prices fell Friday morning in Europe with the benchmark oil for December delivery declining $1.88 to $85.93 a barrel in electronic trading on the New York Mercantile Exchange.

Source: The Associated Press

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