Absence of Doha deal hits commodity currencies
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London
COMMODITY currencies slipped on Monday while the safe-haven yen gained ground after major crude exporters failed to agree on an output freeze, sending oil prices tumbling once again.
A plan to cap production at current levels fell apart on Sunday at a meeting in Doha after Saudi Arabia demanded that Iran join in, leaving the credibility of the Opec producer cartel in tatters and the world awash with unwanted fuel.
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