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Swiss fallout drives euro to 11-year low against dollar

Saturday, 17 January 2015

The euro fell to another 11-year low against the dollar Friday, a day after the Swiss National Bank’s surprise decision to eliminate its exchange-rate cap removed a source of support for the shared currency.

The euro EURUSD, +0.00%  briefly traded under $1.15, its lowest level against the buck since 2003. The euro was last at $1.1567 to the dollar late Friday, down 0.57% on the day and 2.3% on the week.

The euro EURCHF, +0.00% tumbled to 1.0068 to the franc, from a high of 1.0252 franc earlier in the session. 

The ICE U.S. dollar index DXY, +0.54%  a measure of the greenback against a basket of six-rival currencies rose 0.82% to 93.1320 and up 1.3% for the week.


Copper Market Update


High-grade copper for March delivery HGH5, +2.91%  rose 6 cents to settle at $2.62 a pound, after coming under heavy selling pressure earlier in the week.


Natural Gas Market Update


February natural gas NGG15, -2.31%  bucked the trend, however, to lose 3 cents, or 1%, to $3.1270 per million British thermal units.


Heating oil Market update

February heating oil HOG5, +2.53%  rose 4 cents, or 2.6%, to $1.6656 a gallon. On the week, however, heating oil lost 2.2% and extended its losing streak to an eleventh week.

Gasoline Market Update

Gasoline for delivery in February RBG5, +4.94% gained 6 cents, or 4.6%, to $1.3588 a gallon. On the week, gasoline rose 2.7% after seven straight weeks of losses.


 

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