The commodity-linked currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the European session on Thursday, as the crude oil prices dropped giving up earlier gains on hopes that U.S.-Iran peace negotiations could resume.
Brent crude futures for August delivery were down 0.8 percent at $92.32 a barrel, reversing gains from earlier in the session after the U.S. military said that it had 'completed' its latest round of airstrikes targeting Iran. WTI crude futures fell half a percent to $89.54.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.