After years of failing to live up to their name, petrocurrencies are once again moving in lockstep with oil. This may be a sign that commodity traders are shifting their focus from supply surges and shocks back to global macroeconomic conditions. Since the start of 2019, the Brent international benchmark for oil has risen 32% and is now trading firmly above $70. The Russian ruble, Canadian dollar, Norwegian krone, and Mexican and Colombian pesos have rallied in sync against the U.S. dollar.

Source: Wall Street Journal April 10, 2019 13:30 UTC