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Commodity-Exporter Currencies Hold Gains With Crude Oil’s Bounce

Posted on 27 January 2016

The currencies of commodity-exporting nations held gains after raw-material prices rebounded, providing a respite from this month’s selloff. The Canadian dollar and South African rand rose about 1 percent on Tuesday as prices for crude oil, metals and agricultural commodities gained.
The currencies had advanced amid a broader climb for natural-resource exporters against the U.S. dollar in the previous five days. “The key driver for commodity currencies today is that oil is up 3 to 4 percent,” Ian Gordon, a foreign-exchange strategist at Bank of America Corp. in New York, said ……………………………………….Full Article: Source


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