Currencies: Dollar down against commodity currencies as oil prices surge

The U.S. dollar slipped on Monday, losing ground against so-called commodity currencies as oil prices leapt on the prospects for an OPEC-led deal for continued production limits.

The greenback also lost ground against other major rivals, including the euro, extending the weakness the dollar saw on Friday, when downbeat economic data eroded much of last week’s gain.

The ICE U.S. Dollar Index DXY, -0.31% a measure of the buck against six rival currencies, fell 0.4% to 98.875. The WSJ Dollar Index BUXX, -0.31% which gauges the greenback against a wider basket of rivals, was lower by 0.3% at 89.91.

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