Commodity-linked Currencies Turn Higher As Oil Rallies

Commodity-linked currencies like the Canadian dollar, Russian ruble and Norwegian krone turned higher against the dollar Monday as crude-oil prices rallied. The Canadian dollar reversed earlier declines to trade 0.1% higher on the day at 75.85 cents. The ruble was up 2.3% at 64 to the dollar. The krone was up 0.1% at 8.3 to the dollar. West Texas Intermediate crude, the U.S. benchmark, was up 7.5% to $48.64 in recent trade, while Brent crude, the international benchmark, was up 7% to $53.55 a barrel. All three currencies weakened against the dollar over the past month as crude prices fell to levels not seen since 2009.

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