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Oil bounce drives up Canadian, Aussie dollars
Published Mon, May 15, 2017 · 09:50 PM
London
THE Canadian dollar hit its highest level in over two weeks and the Australian dollar hit a 12-day high on Monday as a bounce in oil prices drove a recovery in major commodity-linked currencies.
Saudi Arabia and Russia agreed on Monday to extend oil output cuts until March 2018 to rein in a global crude glut, pushing up prices by as much as 2 per cent and dominating morning trade on European currency markets. That gave the Ca…
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