The Australian dollar, sensitive to the ebb
and flow in risk appetite and fluctuations in commodity prices, was up
0.2 percent at $0.7022 after touching a nine-day high of $0.7046 on
Friday.
Crude, recently under pressure from a global glut, jumped as harsh winter weather on the U.S. East coast boosted demand for heating oil. U.S. crude climbed 9 percent and Brent bounced 10 percent on Friday.
U.S. crude was last up 0.9 percent at $32.49 a barrel. The contracts had descended to as low as $26.19 last week, their lowest since May 2003. Brent crude rose 1.3 percent to $32.59 a barrel after dropping on Wednesday to $27.10, lowest since November 2003.
Recently battered oil-linked currencies enjoyed a boon on crude's sharp rebound. The Canadian dollar traded near an 11-day high of C$1.4115 per dollar hit on Friday, having jumped from a 13-year low of C$1.4689 reached earlier last week.
Crude, recently under pressure from a global glut, jumped as harsh winter weather on the U.S. East coast boosted demand for heating oil. U.S. crude climbed 9 percent and Brent bounced 10 percent on Friday.
U.S. crude was last up 0.9 percent at $32.49 a barrel. The contracts had descended to as low as $26.19 last week, their lowest since May 2003. Brent crude rose 1.3 percent to $32.59 a barrel after dropping on Wednesday to $27.10, lowest since November 2003.
Recently battered oil-linked currencies enjoyed a boon on crude's sharp rebound. The Canadian dollar traded near an 11-day high of C$1.4115 per dollar hit on Friday, having jumped from a 13-year low of C$1.4689 reached earlier last week.
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