It's not a weak dollar that's driving up crude prices - it's higher oil prices that are driving...

|By:, SA News Editor

It's not a weak dollar that's driving up crude prices - it's higher oil prices that are driving the dollar down, sending metals and softs soaring, Jeffrey Currie, head of commodity research at Goldman Sachs, says: "Oil represents 40-50% of the U.S. current account deficit, so a higher oil price represents an outflow of dollars that pushes the currency lower."