| A combination of a weaker oil price and more aggressive Federal Reserve hits commodity currencies. Commodity currencies began what looked like a sure and steady retreat from 2016 highs, bowing to the strength of the dollar and a market warming to the idea of a midyear US rate rise.
Norway’s krone led the withdrawal, falling 1.7 per cent since Wednesday to NKr8.36, while the dollar bloc also came under pressure. A month ago, the dollar was worth less than C$1.25 Canadian dollars but will now fetch more than C$1.31...............................................Full Article: Source
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