| Tumbling oil prices are weakening the currencies of major oil-exporting countries for the second time in a year. Currencies in Norway, Canada, Russia and Nigeria have fallen sharply against the U.S. dollar this month on oil-price declines, after having already stumbled late last year.
In the past month, oil has slipped as a result of a strong U.S. dollar, slow global growth—especially in China—and a supply glut. “The market is awash with oil so it’s really hard to see oil prices rising any time soon,” said Piotr Matys, a strategist at Rabobank...............................................Full Article: Source
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