The chart above shows the percentage changes in the price of oil since January 2010, measured in U.S. dollars (30.7% through February), Swiss francs (15.2%) and Japanese yen (12.6%). Isn't this evidence that at least part of the increase in the dollar price of oil is due to the deprecation of the U.S. currency? When priced in Swiss francs, oil prices have only increased by half of the dollar price increase, and when priced in yen, oil has gone up less than half the dollar price increase.
