VOA常速英语2007年-Dollar, Stocks Drop As Oil Nears $100 Per Barre

By Barry Wood
Washington
08 November 2007

The price of oil briefly¹ touched $98 a barrel Wednesday while the dollar continued its decline and the Dow Jones Industrials fell two percent. VOA's Barry Wood reports one expert sees a direct relationship between the dollar's decline and the price of oil.

Ted² Truman, researcher at Washington's Peterson Institute of International Economics, says the advance in the oil price is directly connected to the dollar's decline.

"Yes, because the true price of oil is in barrels, something per barrel, and the faster the dollar goes down the faster the dollar price of oil will go up," said Ted Truman. "That's the arithmetic."

Oil has long been priced in dollars. Its steady advance over the past two months has coincided with the dollar's equally steady decline against other major currencies. Truman was formerly³ the top international official at the US Federal Reserve and Treasury⁴ Department.

Some stock market analysts⁶ are also drawing a connection between the dollar's weakness and Wall Street. Carter Worth is the chief technical analyst⁵ at Oppenheimer brokerage in New York. He points out that foreign investors⁷ have trouble making money on Wall Street when their currencies are rising against the dollar.

"At some point, the dollar itself and its unrelenting weakness scare foreign buyers of financial assets in this country," said Carter Worth. "And that is the risk. They pull away from the bonds and the bond market. They pull away from financial assets. You can go and get excited about a US stock but you're going to lose all your money in the currency trade. It is increasingly worrisome."

Worth spoke⁸ on CNBC Television. The dollar traded at another record low Wednesday at $1.46 against the euro. It closed at $2.10 against the British pound.

Truman said he believes the US Treasury is remaining silent about the dollar's decline in large part because any statement in support of the currency probably would have little effect.

"I'm sure that the Treasury Department would be more comfortable if the adjustments in these markets were not as volatile⁹ and as one way as they have been," he said.

In New York, the Dow Jones industrials index was down two percent Wednesday, losing 360 points to 13.300. Reflecting continuing trouble in the housing credit markets, financial institutions led the way lower.

1 briefly   

adv.简单地，简短地

参考例句：

• I want to touch briefly on another aspect of the problem.我想简单地谈一下这个问题的另一方面。
• He was kidnapped and briefly detained by a terrorist group.他被一个恐怖组织绑架并短暂拘禁。

2 ted   

vt.翻晒，撒，撒开

参考例句：

• The invaders gut ted the village.侵略者把村中财物洗劫一空。
• She often teds the corn when it's sunny.天好的时候她就翻晒玉米。

3 formerly   

adv.从前，以前

参考例句：

• We now enjoy these comforts of which formerly we had only heard.我们现在享受到了过去只是听说过的那些舒适条件。
• This boat was formerly used on the rivers of China.这船从前航行在中国内河里。

4 treasury   

n.宝库；国库，金库；文库

参考例句：

• The Treasury was opposed in principle to the proposals.财政部原则上反对这些提案。
• This book is a treasury of useful information.这本书是有价值的信息宝库。

5 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

6 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

7 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

8 spoke   

n.（车轮的）辐条；轮辐；破坏某人的计划；阻挠某人的行动 v.讲，谈（speak的过去式）；说；演说；从某种观点来说

参考例句：

• They sourced the spoke nuts from our company.他们的轮辐螺帽是从我们公司获得的。
• The spokes of a wheel are the bars that connect the outer ring to the centre.辐条是轮子上连接外圈与中心的条棒。

9 volatile   

adj.反复无常的，挥发性的，稍纵即逝的，脾气火爆的；n.挥发性物质

参考例句：

• With the markets being so volatile,investments are at great risk.由于市场那么变化不定，投资冒着很大的风险。
• His character was weak and volatile.他这个人意志薄弱，喜怒无常。