# Australia, NZ dollars dragged lower by iron ore weakness - Markets - Business Recorder

> 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.

- Date: 2021-06-22 · published 2021-06-22T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/46848-australia-nz-dollars-dragged-lower-by-iron-ore-weakness-markets-business
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

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.

## Sources

- brecorder.com: https://www.brecorder.com/news/40102051

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.