Investing.com - The commodity-related Canadian and Australian dollars gained ground against their U.S. counterpart on Monday, pushed higher by a bounce in oil prices.
Oil prices rallied after Saudi Arabia and Russia said Monday they believe a deal to cut oil production should be extended for a further nine months until March 2018 in a bid to slash a global supply glut.
The loonie, as the Canadian dollar is also known, hit its highest levels in two weeks, with USD/CAD falling 0.7% to 1.3619.
The Australian dollar hit one-and-a-half week highs, with AUD/USD climbing 0.7% to 0.7438. The New Zealand dollar was also higher, with NZD/USD advancing 0.57% to 0.6905.
The greenback started the week on the defensive after U.S. data on Friday fell short of expectations and another missile test by North Korea on Sunday supported safe haven demand for the yen.
The Japanese currency received an additional boost after a weekend cyberattack that hit businesses, hospitals and government agencies in at least 150 countries around the world.
USD/JPY was at 113.47 by 10.38 GMT, holding above overnight lows of 113.17.
The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.21% at 98.84.
The euro pushed higher against the dollar, with EUR/USD up 0.23% to 1.0956, building on Friday's 0.7% gain.
Sterling was also higher, with GBP/USD climbing 0.34% to 1.2933.