Commodity currencies got off to a shaky start on Friday, having tracked oil prices lower, after a meeting of OPEC countries disappointed some investors who had hoped for larger production cuts. Sterling slipped after an opinion poll showed that Britain’s opposition Labour Party has cut the lead of Prime Minister Theresa May’s Conservatives to five points ahead of a June 8 national election.
The pound fell 0.3 percent to $1.2908. That added to the 0.3 percent loss on Thursday, after data showed Britain’s economy slowed more than previously thought in the first quarter of the year. Commodity-linked currencies struggled to gain traction after having taken a hit overnight from a tumble in oil prices.
The Canadian dollar was last trading at C$1.3484 per U.S. dollar, down from a five-week high of C$1.3388 touched at one point on Thursday. The Australian dollar eased 0.1 percent to $0.7447, staying on the defensive after shedding 0.7 percent on Thursday. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
The pound fell 0.3 percent to $1.2908. That added to the 0.3 percent loss on Thursday, after data showed Britain’s economy slowed more than previously thought in the first quarter of the year. Commodity-linked currencies struggled to gain traction after having taken a hit overnight from a tumble in oil prices.The Canadian dollar was last trading at C$1.3484 per U.S. dollar, down from a five-week high of C$1.3388 touched at one point on Thursday. The Australian dollar eased 0.1 percent to $0.7447, staying on the defensive after shedding 0.7 percent on Thursday. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774
No comments:
Post a Comment