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Currencies: U.S. dollar rises against commodity currencies after OPEC agreement

The U.S. dollar was slightly lower on Thursday, though it rose against the so-called commodity currencies as crude oil prices fell following an agreement by Organization of the Petroleum Exporting Countries and other major producers to extend production cuts.

OPEC renewed an agreement to withhold some crude-oil supplies through March 2018, though the official deal details have yet to be announced. Oil prices, which previously rallied in anticipation of an agreement, retreated after reports that deeper production cuts weren’t part of the plan. U.S. crude futures CLX7, -3.63% fell 1.6%, while Brent crude LCOZ7, -3.27% lost 1.2%.

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