Crude oil price rally propels commodity currencies
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London
THE Australian and Canadian dollar rose on Tuesday, aided by a surge in oil prices to five-month highs that lifted most commodity-linked currencies.
Oil prices have rallied on expectations that global supplies would tighten due to fighting in Libya, OPEC-led cuts and US sanctions against Iran and Venezuela, although energy prices slipped slightly on Tuesday. The Australian dollar added 0.3 per cent to US$0.7151 after earlier touching a three-week high.
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