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- Asian session: Commodity-linked currencies pulled back from recent peaks
Asian session: Commodity-linked currencies pulled back from recent peaks
Commodity-linked currencies like the Australian and Canadian dollars pulled back from recent peaks on Wednesday as a rally in crude oil prices stalled after a oil workers' strike in Kuwait ended.
The U.S. Federal Reserve's caution over raising interest rates, coupled with ultra-loose monetary policies in Japan and Europe, has boosted the appeal of the higher-yielding Aussie this year.
The Aussie's recent surge -it has gained seven percent this year after plumbing a seven-year low in January- had analysts wondering whether the currency had climbed too far too fast.
In March, ECB chief Mario Draghi unleashed a bold easing package but the euro rallied after he suggested there would be no further cuts.
EUR/USD: during the Asian session the pair traded in the range of $1.1355-75
GBP/USD: during the Asian session the pair fell to $1.4365
USD/JPY: during the Asian session the pair fell to Y108.85
Based on Reuters materials
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