The price of crude oil as a factor for USD volatility.
Ключові слова:
currency markets, USD, crude oil price volatilityАнотація
The area of research in the paper is the USD as the leading currency on the foreign exchange market, while the research problem – the crude oil price volatility as a factor with an effect on the USD exchange rate. The analysis focuses on the proposition that there exists a correlation between the price volatility of the petrol, as a strategic energy commodity and the USD as a global leading reserve currency. The purpose of this article is to present a contemporary perspective to the assessment of the price volatility of crude oil, as a leading external to the US economy factor that influences the USD exchange rate as a global reserve currency with a dominant role in the volume of transactions on world currency markets. The expected results are focused on the establishment of the level of correlation or/and cointegration between the volatility of crude oil prices and the USD volatility compared to a “basket” of currencies.Посилання
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