- Crude oil dropped again after falling 5.5% to $47.35 a barrel, the lowest price since April 2009. Norway is western Europe’s largest oil producer and the oil crisis has had a knock-on effect on its currency as the krone slid 1.3%to 7.7533 per dollar. This took its total drop for the year to 3.9%, the largest of the dollar’s 16 major peers.
- Monday saw the New Zealand dollar have a poor start to the week as it fell against its US counterpart. However, it was not all doom and gloom for the kiwi as it managed to remain close to the one-month highs that it reached last Friday.
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