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The Canadian dollar has held up as the last bright spot of the reflation trade, despite some pullback from stretched positioning. Elevated raw material prices and accommodative central bank policies remain intact.
The yen is also weakening under similar dynamics.
Persistently elevated raw material prices underpin commodity values, though the article is mainly about currency positioning rather than a direct supply or demand shift.
bloomberg.comRobert FullemAug 1, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
