Dollar Sags as Commodity Currencies Draw Support From Crude Oil Surge
Tuesday, 9 April 2019 07:38 WIB | CURRENCIES |Dolar Indeks Dolar EuroDolar ASAussieDolar
The dollar sagged on Tuesday after weak U.S. economic data while commodity-linked currencies such as the Canadian and Australian dollars drew support from an ongoing surge in crude oil prices.
The dollar index against a basket of six major currencies stood little changed at 97.083 after losing 0.35 percent the previous day, marking its biggest daily decline since March 20.
In addition to pressure from buoyant commodity-linked currencies, the dollar was weighed by data showing U.S. durable goods orders declined in February and as the euro bounced as investors squared positions ahead of an upcoming European Central Bank meeting.
The Australian dollar was steady at $0.7121 after rising 0.3 percent the previous day.
The euro was effectively flat at $1.1256 after advancing 0.4 percent on Monday, when it ended a two-day losing streak.
Source : Reuters
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