US Dollar

Oil prices saw a spike as Middle East conflicts disrupted supply routes.

This is the lowest level since November.

The BRICS bloc will dump the U.S. dollar in trade settlements and bolster the use of local currencies in bilateral trade.

Cryptic comments from Russian officials regarding the announcement of a gold-backed currency for the trade bloc known as BRICS has created a stir in the international community. Financial and economic experts weigh in and explain how a shared currency may impact the U.S. dollar.

This latest bout of greenback strength is creating chaos for other currencies, including the typically stable Canadian dollar, and primarily reflects financial markets adjusting for the greater likelihood of a recession,