Forex
Aussie Dollar Surges to Four-Month High Amid Oil Price Spike
The Australian dollar has reached a four-month high against the greenback as oil prices surpassed $US100 per barrel.
This surge in oil prices led to a fresh six-week low for the ASX, which slipped 9.4 points or 0.11% to 8911.40 on Wednesday.
The Aussie dollar is also nearing a 13-year high against the NZ Dollar and a 22-month high against the Euro.
Copper prices hit an all-time peak of $US14,635 ($A20,260.40) on the London Metals Exchange, driving shares in Sandfire Resources up 2% to $22.95 and Capstone Copper shares soaring 5.47% to $16.00.