Dollar falls as oil price gain boosts commodity currencies

London

THE US dollar fell against a basket of currencies and slid against the euro on Wednesday in thin holiday trading, while a rally in commodity prices helped push the Canadian and Australian currencies to their highest levels in recent weeks.

Traders said there was little news to support the euro's rise, but some investors have positioned for a possible strengthening into the new year. In 2017 the euro had its best year against the greenback since 2003. Sterling enjoyed a bounce amid the broad dollar decline, with the pound up 0.3 per cent at US$1.341 at 1235 GMT. It had traded as high as US$1.3423 earlier on Wednesday, its highest since Dec 15.