The Norwegian Krone extends gains from Monday ASIAPAC open as markets digest the surprise OPEC+ output cut. Several desks have revised their crude oil forecasts higher on the back of this announcement
The AUD is playing catch up, now leads commodity FX peers, AUD is now 1.2% vs the dollar on the day. We remind you that market participants head into the RBA monetary policy decision later today, desks are seen mixed on their Cash Rate calls
CAD and MXN are benefited to a lesser extent, both currencies trade up vs the dollar by more than 0.30% on the day
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