Brent oil is up 1.52 dollar a barrel ahead of a report indicating a fall in US crude inventories. Tighter supplies are also expected following US sanctions on Iran.
Tag: Australian dollar
U.S. President’s veiled criticism on Fed’s monetary policy dampened traders’ enthusiasm ahead of US-China trade talks, sending the greenback lower. Dollar dips against its major traded rivals. The dollar’s index DXY fell about 0.4 % on Tuesday to its lowest in almost two weeks.
No-deal Brexit and lack of transition agreement hits the Sterling which dropped below $1.29 to a one-year low, on Wednesday.
Oil prices soar following the imposition of new sanctions to Iran, one of the major crude exporters. The renewed sanctions came into force early on Tuesday.
As traders widely expected, Bank of England raised interests from 0.50% to 0.75% after nine years.