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Commodity currencies firm, yen sags after OPEC oil curb agreement
Commodity-linked currencies held firm on Thursday after OPEC agreed to cut oil output in the first such deal since 2008, boosting oil prices while a broad gain in risk assets dented the yen. The Organization of the Petroleum Exporting Countries said it would reduce output to a range of 32.5-33.0 million barrels per day, a reduction of 0.7-2.2 percent from OPEC estimates of its current output at 33.24 million bpd. That lifted oil prices, with international benchmark Brent futures LCOc1 posting their biggest gains in 2 1/2 months to a three-week high of $48.96 per barrel. "It was a surprise that OPEC reached an ... (full story)