The euro got knocked down by the stronger dollar, while gold, which has an inverse price relationship with USD, tumbled below the key $1300 level for the first time since December 2017. Against the yen, the U.S. currency rallied to fresh 4 – month highs and briefly breached the 111 – yen level for the first time since January.
Brent crude oil on Thursday topped $80 a barrel for the first time since November 2014 and WTI oil continued to rise to near 3½ year highs near $72 a barrel, on concerns about U.S. sanctions on Iran after President Donald Trump announced he would withdraw from the JCPOA.
Also boosting the market, the U.S. Energy Information Administration reported on Wednesday that oil in storage in the United States fell more than expected
Dollar and Oil Keep Pushing Higher
Weekly Report - 21/05/2018