Commmodity currencies hit session lows against the USD

FXStreet (Mumbai) - The US dollar is being sold aggressively against majors amid risk-on rally, but the Greenback has managed to score daily highs against the commodity currencies – AUD, NZD and CAD.

The AUD/USD pair hit a low of 0.7415, while the NZD/USD hit a low of 0.6700. The Antipodeans, especially the Aussie weakness is surprising, given the rally in the commodity prices.

Meanwhile, the USD/CAD clocked a session high of 1.2753. The weakness in the CAD is somewhat explained by the weakness in Crude prices triggered by the bearish IEA forecasts released earlier today.