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The Australian and New Zealand dollars fell on Tuesday as iron ore futures declined further in China. Beijing is stepping up oversight of commodity pricing and targeting speculative trading and steel output.
The Aussie traded near its lowest since late 2020.
Chinese steel and iron ore policy reduces demand expectations for raw materials, and the currencies of commodity exporters follow. The effect on feed grain prices is indirect and small.
brecorder.comReutersJun 22, 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.
