Mon 27 Jul, 2009 10:00 am
LONDON (Reuters) -- The dollar index fell to its lowest level since early June on Monday as gains in equities and oil encouraged investors to take on more risk, prompting strong gains for the euro and commodity-linked currencies.
European shares rose 0.6%, while oil prices came close to $69 per barrel, reaching their highest in more than three weeks as investors stayed optimistic on the global economic outlook.
This helped the euro to its highest since early June against the dollar, while gains in commodities helped propel the Canadian dollar to its strongest since October 2008. The Australian dollar also hit its strongest since early June against the U.S. currency.
LONDON (Reuters) -- Oil rose for a third session on Monday to hit the highest in more than three weeks near $69 a barrel as stock markets gained on hopes of an economic recovery that would boost fuel demand.