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The Australian dollar traded choppily on Wednesday, falling in Asian and European sessions before recovering in North America. Citi expects pressure from trade wars and a drop in iron ore prices to restrain the currency short term.
Lower iron ore prices weaken Australia's terms of trade, which can reduce the AUD and slightly affect Australian export pricing. The impact on feed grain markets is minimal.
exchangerates.org.ukFrançois AuréMar 29, 2018Not 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.
