Economic news

Dollar hits fresh 2018 peak on oil price slump

The dollar advanced versus a basket of major currencies on Wednesday, to its top since mid November, supported by gains against commodity-linked currencies, as crude prices slid after main producers said they were ready to relax supply curbs.

Photo: Reuters

The dollar index .DXY jumped 0.44 percent to 94.167, after touching a peak of 94.241, its highest level since mid-November.

The U.S. currency soared 0.62 percent versus its Canadian counterpart, a more than two-week top. The Aussie slipped 0.25 percent.

Versus the safe-haven yen the greenback was little changed, last trading at 109.25.

The euro fell to $1.1654, while the pound slipped to $1.3321 after weak GDP data.

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