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The Australian dollar extended its rally, breaking above US80 cents for the first time since February 2018 on Thursday. The currency was driven by strong base metal, iron ore and oil prices despite a sharp reversal on Friday.
A firmer Aussie raises the cost of Australian exports priced in USD, a modest headwind for competitive feed-grain and barley export pricing. Commodity-linked currency moves can also shift Australian grain and oilseed offers.
afr.comWilliam McInnesFeb 28, 2021Not enough comparable past events yet for a historical read.
Not 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.
