| Sliding crude prices set the tone on currencies markets on Monday, and while the Russian rouble bore the brunt of the selling, it was not alone. The Norwegian krone hit a five-year low on Monday, while the Canadian dollar continued to weaken and the Nigerian naira hit a record low.
The currencies of oil exporting nations remained under pressure across the board after Opec signalled last week it would not reduce output quotas, leaving prices to balance supply after the impact on the market of the shale boom and new exporters, including the US...............................................Full Article: Source
|