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The Australian dollar climbed above 69 US cents in early June, with traders citing a weaker US dollar and strong iron ore prices above US$100 a tonne. The rise followed a 24 per cent gain from the March low.
Iron ore strength reflects Chinese steel demand and Brazilian supply disruptions, which supports Australian export earnings. A firmer Aussie makes Australian grain and feed exports less competitive in US dollar terms.
smoney.com.auJustin RamponoJun 2, 2020Not 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.
