Commodity-Exporter Currencies Climb as Oil Rises on Output Drop
- Brent crude rises above $45 a barrel after production drops
- Australian dollar leads gains as greenback swings before data
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Currencies of nations that export all kinds of commodities benefited from a jump in oil prices following news of a drop in U.S. production.
Australia’s currency vied with its Canadian counterpart to lead gains as Brent oil, the international benchmark, climbed above $45 a barrel, extending an advance that’s seen it climb more than 70 percent from a 12-year low earlier this year. The Bloomberg Commodity Index rose for the first time in four days.