The Canadian dollar edged lower
against its U.S. counterpart on Thursday as a move higher in oil
prices was offset by domestic data showing that retail sales
growth stalled in March, but the currency ...
-The Russian rouble slumped around 7% against the dollar and the euro on Thursday as the central bank cut interest rates to 11% at an off-schedule policy meeting and suggested that more cuts would follow as inflation risks subside.
Sterling touched its highest level in three weeks on Thursday, with the UK government's latest measures to help alleviate a cost of living crisis seen supporting the economy in the short term.
The U.S. dollar edged back towards a one-month low on Thursday, as minutes from the Federal Reserve's May meeting contained few surprises, with most participants favouring additional 50 basis point rate hikes at the June and July meetings.
Oil's bull run is taking little notice of the strong U.S. dollar, breaking crude's historical inverse link to the greenback and giving analysts confidence it has further to go based on current market fundamentals. A strong dollar typically weighs on oil prices because it makes the commodity more expensive for holders of other currencies, potentially hurting demand for crude.
Oil's bull run is taking little notice of the strong U.S. dollar, breaking crude's historical inverse link to the greenback and giving analysts confidence it has further to go based on current market fundamentals. A strong dollar typically weighs on oil prices because it makes the commodity more expensive for holders of other currencies, potentially hurting demand for crude.
The U.S. dollar was little changed on Thursday, hovering above a one-month low, as minutes from the Federal Reserve's May meeting contained few surprises, with most participants favouring additional 50 basis point rate hikes at the June and July meetings.
The Russian rouble slumped around 7% against the dollar and the euro on Thursday as the central bank cut interest rates to 11% at an off-schedule policy meeting and suggested that more cuts would follow as inflation risks subside.
Sterling held near its highest levels in three weeks on Thursday, with traders awaiting more details on the British government's response to a cost-of-living crisis.
The Russian rouble weakened ahead of an off-schedule central bank policy meeting that will likely see interest rates lowered on Thursday, though it still traded not far from multi-year highs against the euro and dollar, buoyed by capital controls. The central bank is due to announce its decision on rates at 0730 GMT.
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