commodity

Forex News – Commodity currencies hurt by recent rout in raw material prices

Posted on November 6, 2014 at 12:00 pm GMT

A drop in commodity prices recently has hurt the currencies of producers of such raw materials. The CRB commodity index has dropped 14.5% from its peak in late June and although it is once again not far from the level where it started the year, it could prove a significant factor for the specific countries that depend a lot on commodity exports. Two prime examples are the antipodean currencies of Australia and New Zealand. Australia’s biggest export is iron ore, [..]

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