Continued Selloff of Greenback Supports Crude Prices

Commodities rose as the post-FOMC selloff in the US dollar continued. Disappointing economic data also trimmed speculations of Fed’s tightening. The front-month contract for WTI crude oil strengthened for a second consecutive day, rising to a 2-week high of 47.61 before settling at 47.45, up +3.7%. The Brent crude contract also gained +1.08% at close.

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Continued Selloff of Greenback Supports Crude Prices