FOREX-Commodity currencies hold firm on hopes of pandemic peak, oil output cut [Reuters]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
FOREX-Commodity currencies hold firm on hopes of pandemic peak, oil output cut * Hopes of pandemic peak support risk-sensitive currencies * Commodity currencies benefit from oil output cut hopes * Euro dented after EU fails to agree on more policy steps * Graphic: World FX rates in 2020 tmsnrt.rs/2RBWI5E By Hideyuki Sano TOKYO, April 9 (Reuters) - Commodity currencies drew support on Thursday from hopeful signs the coronavirus pandemic may be peaking and that major oil producers may agree to cut output to stem a plunge in oil prices. The Australian dollar fetched $0.6225, down slightly but still near its highest level since mid-March, maintaining most of its gains since rallying from a 17-year trough of $0.5510 touched three weeks ago. The dollar’s index against six other major currencies stood flat at 100.15 in early Thursday trade. The index is down 0.6% so far this week as safe-haven flows to the U.S. currency eased on rising hopes much of Europe and the United States could soon s
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