Oil price plunge weighs on commodity currencies, euro holds firm

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Reuters UK

By Alun John HONG KONG (Reuters) – The euro held at a one-month high against the dollar on Thursday, after rallying on hopes the war in Ukraine might enter a new de-escalating phase, while tumbling oil prices weighed on commodity currencies and the yen resumed its slide. The European single currency was at $1.116 having hit a one-month high of $1.1184, in early trade. It is up 1.6% so far this week, and its next resistance level is at $1.1364, according to Commonwealth Bank of Australia. “The euro has been one of the biggest winners over the past sessions, part of that reflects the positive ne…

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