Currencies: Oil-pegged currencies gain as U.S. says it will end waivers for Iranian crude imports

Currencies linked to commodity prices were trading higher on Monday after the U.S. government said it was halting waivers for countries that import Iranian oil.

Biggest movers

The currencies of Canada and Norway — two of the world’s largest oil exporters — are the biggest movers in Monday morning trade. The Canadian dollar USDCAD, -0.3584% had gained 0.3% against the greenback, with a single dollar fetching C$1.3356, while the Norwegian krone USDNOK, -0.1998% added 0.2% to 8.4980.

The news of potential sanctions pushed the price of both West Texas Intermediate crude CLK9, +2.80% and Brent crude LCOM9, +3.32% prices higher by more than 2%.

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