| Commodity currencies slumped early on Monday while the safe-haven yen soared after global oil producers failed to agree on an output freeze, sending oil prices tumbling anew. The Canadian dollar and its Australian counterpart were both marked more than 1 percent lower to as low as C$1.2957 per USD CAD=D4 and $0.7594 AUD=D4 in early trade.
The loonie last stood at C$1.2952 per USD, while the Aussie was at $0.7663, both down about 1 percent. A deal to freeze oil production by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices...............................................Full Article: Source
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