The Canadian dollar set a 14-month low and the Australian dollar hit a four-month trough as oil prices slid on Friday, while the safe haven yen edged higher as risk sentiment wavered.
The Canadian dollar slipped to C$1.3790 per U.S. dollar at one point, its weakest level since late February 2016. The loonie was last down 0.3 percent at C$1.3786.
The Australian dollar slid to $0.7372 at one point, its lowest level since Jan. 11, last trading at $0.7381, down 0.4 percent on the day.
Commodity-linked currencies took their cues from a slide in oil prices, said Stephen Innes, a senior trader for FX broker OANDA in Singapore.
“I think that’s really driving it… It’s just a direct correlation with oil prices and a little bit of risk aversion coming into the dollar/yen,” Innes said.
U.S. West Texas Intermediate (WTI) crude oil futures CLc1 slid 3 percent on the day.
The dollar fell 0.3 percent against the yen to 112.19 , pulling away from a seven-week high of 113.045 yen set on Thursday.
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