Falling oil and gold prices pressure aussie

Commodity currencies suffered as oil and gold prices tumbled. The Australian dollar weakened 0.8 percent to 84.41 U.S. cents and the country’s 10-year government bond yield dropped below 3 percent for the first time since October 2012.

The Norwegian Crown, also a commodity-linked currency due to Norway’s production of oil, was the worst-performing major currency against the US dollar this quarter, dropped 0.3 percent, South Africa’s rand retreated 0.4 percent and the Canadian dollar declined 0.2 percent.
West Texas Intermediate crude lost 2.5 percent to $64.53 a barrel.

Gold for immediate delivery fell as much as 2.1 percent to $1,142.88 an ounce, the lowest level since Nov. 7, before trading at $1,152.09. Silver lost as much as 6.7 percent.

A proposal that would have required the Swiss National Bank to hold at least 20 percent of its assets in bullion was voted down by 77 percent to 23 percent in a referendum yesterday.

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