The commodity currencies such as Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Thursday amid increasing risk-off sentiment, reflecting the continued weakness in technology stocks which mirrored their peers on the tech-heavy Nasdaq amid valuation concerns. Traders also remain cautions as they focus on the Russia-Ukraine peace talks that began in the U.A.E. and the upcoming U.S.-Iran talks in Oman.
After two days of advances, the price of West Texas Intermediate (WTI) oil drops, closing at about $63.50 per barrel on Thursday during Asian hours.
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