The Bank of Korea last month kept its policy interest rate at 3.50%, the highest since late 2008, but revived expectations for an imminent policy easing, which some analysts expect as early as its next meeting on Oct. 11.
Most Asian currencies moved in a flat-to-low range on Thursday, while the dollar firmed as a strong reading on U.S. consumer inflation dashed hopes that the Federal Reserve will cut interest rates by a wide margin.
Both contracts rose by more than 2% in the previous session as offshore platforms in the U.S. Gulf of Mexico were shut and refinery operations on the coast were disrupted by Hurricane Francine’s landfall in southern Louisiana on Wednesday.
Bitcoin’s price rose on Thursday, tracking a broader rally in risk-driven markets, particularly stocks, although the cryptocurrency still remained fragile following steep losses through the prior week.
Crude oil for October delivery was up 1.43% or 0.96 to $68.27 a barrel. Elsewhere in commodities trading, Brent oil for delivery in November rose 1.35% or 0.95 to hit $71.56 a barrel, while the December Gold Futures contract rose 0.13% or 3.35 to trade at $2,545.75 a troy ounce.
