Currency Note Worldwide

Commodity backed currencies benefit from US dollar weakness

By Ricky Bean September 17th, 2013

Elsewhere, market movements were heavily influenced by the withdrawal of Mr Summers from the race to become the next chairman of the US Federal Reserve. This saw the commodity-backed currencies perform well, with the Canadian and Australian dollars hitting one and three-month highs respectively. For the same reason we also saw the Indian rupee and Russian rouble show strength. Overnight last night we had the release of minutes for the latest Australian monetary policy meeting, and later today we have manufacturing data out of Canada. Get in touch to see what impact these releases have on the markets.