SINGAPORE, April 24 — The dollar was headed for its best week since early April today, as tumbling oil prices weighed on commodity currencies and division over Europe’s emergency fund dragged on the euro. The dollar stands near a two-and-a-half week high against a basket of currencies and is...
The dollar was headed for its best week since early April today. — Reuters pic
Morning moves were modest and led by a drift lower in the Australian and New Zealand dollars as traders were unnerved by inconclusive results from a Gilead antiviral drug trial and looking to headlines for further direction. The Aussie and kiwi each shed about 0.2 per cent, holding the kiwi below 60 cents at US$0.5987 and the Aussie at US$0.6356, beneath resistance around 64 cents.
With Italy and Spain hit far harder than Germany by the crisis, old enmities have surfaced across a bloc which faces a cut to output as deep as 15 per cent according to the European Central Bank.
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