Dollar’s decline throws spotlight on battered commodity currencies

News Snapshot:

NEW YORK, July 26 (Reuters) - Some investors are zeroing in on the battered currencies of commodity-producing countries such as Norway and Australia to take advantage of more potential weakness in the dollar, which has recently wobbled on signs the Federal Reserve will soon end its rate-hiking cycle. Many commodity currencies suffered this year when prices for oil and other raw materials fell from their 2022 peaks amid expectations that central banks' fight against inflation would hurt global growth and crimp demand for commodity exports. However, growth in the U.S. and some other countries has proven resilient and strategists increasingly...