Rocketing oil price dominates currencies

The US dollar was trading at around 112 per yen in late trading last Friday – way above consensus forecasts on FX Week’s Currency Forecasts Table of 107 one month ago.

The Norwegian krone and sterling are also outperforming, as oil prices jumped to over $40 per barrel last week, having begun the year trading around the $30 mark, while the Korean won slid to about 1,180 against the dollar.

However, as concerns about the price of oil’s impact on global growth bite, analysts expect these moves to

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