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The Australian dollar rose to become the second-best performing G10 currency of 2019 on iron ore strength. Vale said it will decommission 10 mining dams after a fatal disaster, which could remove over 40 million tonnes of iron ore from the market each year.
Iron ore supply cuts lift the terms of trade for Australia and support its currency, while the mining disruption has little direct bearing on grain or oilseed prices.
poundsterlinglive.comJames SkinnerJan 31, 2019Not 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.
