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Dec 12, 2014

U.S. data underpins dollar, oil plunge sinks Norwegian crown

NEW YORK, Dec 12 (Reuters) – The U.S. dollar cut its losses
against the euro, extended gains against the yen and reached an
11-year high against the Norwegian crown on plunging oil prices
and stronger-than-expected U.S. economic data on Friday.

Oil prices fell to 5-1/2 year lows on concerns of a global
glut, dampening inflation expectations. However, lower energy
costs also increase the cash consumers have to spend heading
into year-end holidays.

Dec 12, 2014

Oil slide knocks Norwegian crown; data bolsters dollar

NEW YORK (Reuters) – The U.S. dollar cut its losses against the euro, extended gains against the yen and reached an 11-year high against the Norwegian crown on plunging oil prices and stronger-than-expected U.S. economic data on Friday.

Oil prices fell to 5-1/2 year lows on concerns of a global glut, dampening inflation expectations. However, lower energy costs also increase the cash consumers have to spend heading into year-end holidays.

    • About Daniel

      "I'm a New York-based global investment correspondent with over 20 years of experience covering financial markets, business and foreign policy. My current post lets me roam across all asset classes and geography, from the developed to the emerging markets. I've reported and taught business and economic journalism from Asia, Europe, Latin America and the United States. Prior to joining Reuters I was a producer at CNN Business News in New York."
      Joined Reuters:
      1997
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