Falling Dollar, Rising Oil Helps KTC Capital Funds Regain Recession Losses
Weakened after sales of homes fell unexpectedly last month, the fall of the U.S. dollar spurs concerns about the longevity of the economic recovery. After a bigger than forecast drop in inventories, oil surged higher than any other month in 2009, driving KTC Capital’s portfolio of funds back to pre-recession levels.
Raw-materials and energy producers are enjoying the strongest gains as reflected in the KTC Capital portfolio performance, rising 1.5 percent and 0.5 percent, respectively. The Dollar Index, which gauges the U.S. Dollar against the currencies of its six major exchange countries, lost 0.5 percent to 76.843 as it pulled back from the strongest level since August.
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