Commodity Currencies Rise As Crude Oil Prices Surge

Source and reference

source on Google Add Now The commodity-linked currencies such as Australia, the New Zealand and the Canadian dollars strengthened against their major currencies in the Asian session on Tuesday, as the crude oil prices surged amid intense attacks between the U.S. and Iran over the weekend, renewing Middle East tensions, fueling global inflationary and the possibility of higher interest rates. In addition, contrasting claims by both nations over control of the Strait of Hormuz led to a decline in vessel traffic. West Texas Intermediate crude for August delivery was up $6.87 or 9.62 percent at $78.28 per barrel. Subscribe to continue reading the article. This article is available exclusively to RTT Biotech Investor and Intelligent Investor subscribers. Subscribe with a RTTNews subscription. Start Free Trial FREE 7-Day Trial - No Payment Required Already subscribed? Sign in For comments...