The Canadian dollar fell to a one-month low against the US dollar, and the Norwegian krone hit a two-and-a-half-week low against the US dollar, dragged down by widespread risk aversion and concerns about the impact of US control of Venezuelan oil. The White House said that after taking military action to remove Venezuelan leader Nicolas Maduro, the US will “indefinitely” control sales of sanctioned Venezuelan oil. It is expected to initially sell between 30 million and 50 million barrels of oil. Monex Europe analysts said in a report that the announcement reignited concerns about medium term oversupply. The US dollar rose to a high of 1.3888 Canadian dollars and 10.1266 NOK.

The Canadian dollar fell to a one-month low against the US dollar, and the Norwegian krone hit a two-and-a-half-week low against the US dollar, dragged down by widespread risk aversion and concerns about the impact of US control of Venezuelan oil. The White House said that after taking military action to remove Venezuelan leader Nicolas Maduro, the US will “indefinitely” control sales of sanctioned Venezuelan oil. It is expected to initially sell between 30 million and 50 million barrels of oil. Monex Europe analysts said in a report that the announcement reignited concerns about medium term oversupply. The US dollar rose to a high of 1.3888 Canadian dollars and 10.1266 NOK.