The euro’s depreciation against the dollar accelerated Wednesday, pushing it closer to parity, as expectations for a June rate hike by the Federal Reserve drew more investors to the already-crowded dollar trade.
The euro EURUSD, -0.31% traded as low as $1.0547, a nearly 12-year low, compared with $1.0700 late Tuesday in New York. The euro was down 1.4% against the dollar Wednesday, following a 1.4% decline Tuesday.
Against the yen, the dollar USDJPY, +0.00% traded at ¥121.43, compared with ¥121.13 on Tuesday.
Disappointing U.K. manufacturing data pushed the pound GBPUSD, +0.01% to $1.4928, its lowest level since mid-2013.
On Nymex, April gasoline RBJ5, +0.32% tracked on nearly a penny to $1.826 a gallon and April heating oil HOJ5, +0.54% settled at $1.814 a gallon, up just over half a cent.
April natural gas NGJ15, -0.25% climbed 9.2 cents, or 3.4%, to end at $2.824 per million British thermal units ahead of the EIA’s update Thursday on natural-gas supplies.
Oil futures fell on Wednesday after a U.S. government report showed a ninth straight weekly climb in crude supplies, but pared losses late in the trading session to hold ground at a two-week low.
On the New York Mercantile Exchange, crude for delivery in April CLJ5, -0.02% settled at $48.17 a barrel, down 12 cents, or 0.3%. Price, which traded under $48 for much of the session following the government report, managed to hold ground at their lowest settlement level since Feb. 26.
April Brent crude LCOJ5, +0.42% on London’s ICE Futures exchange added $1.15, or 2%, to end at $57.54 a barrel.