Seems the USD is facing pressure on multiple fronts.
http://ftalphaville.ft.com/blog/2011/04/15/547496/hedge-commodities-in-euros-from-
monday/
Interestingly the CME will start to list on Monday Euro denominated contracts (swap futures) for Brent, ICE Gasoil, N.W.E. High and Low Sulphur Fuel Oil, 10 ppm and 0.1 N.W.E. Gasoil. It will be interesting to see if the Euro denominated contracts for Distillates attracts some interest from European domestic operators for hedging purposes. Missing from the kit in our opinion is a Jet Euro denominated contract.
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