Corporate foreign exchange news

Commodities slip on dollar strength

Tuesday, 15 September 2009 10:01:03 GMT

Peaks in the strength of the dollar led to commodities slipping slightly over the course of Monday (September 14th), reports Reuters.
As the currency gained ground, goods that are traded globally in dollars lost value due to their relative increase in expense.
Oil and base metals were among those whose fortunes were impacted upon by gains in the value of the dollar.
However, gold was a notable exception, according to Reuters.
Early in Monday trading, the metal was inversely correlated to the performance of the dollar as usual.
This caused it to lose value slightly as the dollar strengthened; however, as the currency lost a little ground later in the day, gold also slipped to a lower valuation.
Monday also saw the dollar make gains in Singapore trading as it corrected a series of declines that occurred in the previous week.
BusinessDay reported news from Reuters that this helped the currency to recover from a year-long low seen in previous days.ADNFCR-2522-ID-19360761-ADNFCR
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