-
US dollar heads toward weekly gain as oil shock reveberates
The dollar was headed for its best week since early April on Friday, as tumbling oil prices weighed on commodity currencies and division over Europe’s emergency fund dragged on the euro. The dollar stands near a two-and-a-half week high against a basket of currencies =USD and is 0.8% stronger for the week. It is up nearly 3% against the oil-sensitive Norwegian krone NOK= and about 1% on the euro EUR=. Morning moves were modest and led by a drift lower in the Australian and New Zealand dollars as traders were unnerved by inconclusive results from a Gilead antiviral drug trial and looking to headlines for further ... (full story)