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John Wang
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Forex
April 13 18:10

Commodity currencies falling against safe-haven options

Recent oil production cuts were not able to reassure the traders completely. Commodity currencies fell against safe-haven currencies - US dollar and yen.
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OPEC agreement does not help the anxiety.

Recent oil production cuts were not able to reassure the traders completely. Commodity currencies fell in trading against safe-haven currencies - US dollar and yen.
US dollar has grown in trading against New Zealand and Australian dollars on April 13. It has also gone up by 0.63% in trading against Norwegian crown, reaching 10.25, as well as by 0.51% against Mexican peso, reaching 23.45. In trading against the Canadian dollar it remained mostly flat, standing at C$1.3956.
The yen has gone up by 0.33% reaching 108.15 per dollar on Asian forex markets. Japanese currency also gained 0.4% in trading against Australian and New Zealand dollars.
Trading today can be limited, since markets in several countries are closed due to Easter Monday. 
Commodity currencies have been boosted by the agreement over large oil production cuts, reached during OPEC negotiations. However, traders are still concerned over the impact of the coronavirus on the energy market, as well as limited demand.