CURRENCY markets were again driven by equities and commodities as a general risk off sentiment prevailed. Commodities, especially crude oil prices remained a focal point for markets.
The strength of crude prices proved short-lived with renewed weaknesses in oil associated with a slide in US equities and risk aversion came back to grip. Oil prices fell 2.7% this week to below US$40/barrel for the first time in the last seven years despite the latest EIA storage report that showed the biggest inventory draw in four months while the US dollar taking the brunt of the pain.
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