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Commodity currencies rise, yen slips as oil tries to stabilise

Posted on 20 April 2016

Commodity currencies rose on Tuesday with the Australian dollar hitting a 10-month high, while the yen edged lower after oil prices appeared to stabilise from a sharp slide, underpinning risk sentiment. The Australian dollar touched a high of $0.7784 at one point, its best level since last June. It last stood at $0.7773, up 0.3 per cent from late US levels on Monday.
The Aussie and other commodity currencies benefited from oil’s bounce off lows touched on Monday, when they came under pressure after major oil producing countries failed to agree on an output freeze on Sunday………………………………………..Full Article: Source


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