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Oil currencies, dollar buoyed as Saudi attacks keep crude elevated


Tuesday, 17 September 2019 08:30 WIB

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Oil exporter currencies held firm while the dollar found broad support as recent attacks on Saudi oil facilities and the threat of military action in the region kept crude prices kept prices elevated.

Attacks on crude facilities in Saudi Arabia on the weekend boosted oil prices by nearly 15% on Monday, with international benchmark Brent logging its biggest jump in over 30 years. On Tuesday, prices pulled back slightly but remained at lofty levels.

Against the yen the dollar traded at 108.11 yen, just below last week’s high of 108.265, its highest level since Aug. 1.

A major resistance is seen at 108.43, the dollar's 50%retracement from its decline from April to August.

The euro stood at $1.10045, having shed 0.6% on Monday and the Swiss franc also weakened 0.3% to 0.9925 to the dollar.

The dollar index rose almost 0.5% on Monday and last stood at 98.624.

Source : Reuters


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