A much stronger-than-expected increase in US inventory pressured crude oil prices, sending both benchmark contracts to lowest levels in 3 weeks. Commodity prices were also weighed down by a modestly firmer US dollar, as euro and commodity currencies lost ground after BOC’s meeting statement and as Citigroup now projects the Fed to begin tightening in March 2016.
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Commodity Currencies Slipped on BOC’s Dovish Message
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