The plummeting U.S. dollar has become a factor in world oil markets and petroleum company financial results. The U.S. dollar, which generally has lost value against most major currencies since the mid-1980s, came under intense pressure in late August, reports Kidder Peabody. The analyst notes the big spread in European vs. U.S. interest rates combined with President Bush's campaign pledge to cut taxes seems to have precipitated the recent drubbing the dollar has taken in foreign exchange

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