The US dollar nursed losses near a six-week low on Tuesday and commodity-linked currencies loitered around multi-year highs, Reuters reports. Surging prices for materials from oil and copper to lumber and milk powder have pushed currencies such as the Canadian, Australian and New Zealand dollars to their highest in roughly three years. The Australian dollar briefly hit its highest since early 2018, buying US$0.7934, while the kiwi held steady around US$0.7320. The Canadian dollar held just below Monday's near three-year high. The UK pound, which has rallied by nearly 3 percent this year, held above US$1.40 at US$1.4072.

Source: The Standard February 23, 2021 06:00 UTC