- Leading the losses made by currencies of oil-exporting nations was Norway’s krone as it slid to its weakest level since March 2009. The Norwegian currency lost 0.8% to 6.8581 per dollar. Also affected on Tuesday were the Russian rouble and Canadian dollar as crude prices fell to their lowest in three years. The Canadian dollar dropped to a five year low against its US counterpart following the news that Saudi Arabia cut the price of oil exports to American customers. Canada’s dollar fell just over half a percent to C$1.1427.
- The Australian dollar led gainers against the greenback on Tuesday as official data released showed that retail sales in Australia increased by 1.2% in September, coming out way above the 0.4% expectation. The Aussie dollar rose almost half a percent against the U.S dollar, trading at 0.8735.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.