Yesterday was a good day for resource-exporting countries as an increase in Chinese trade surplus boosted commodity prices by the most in two weeks. The South African rand was the biggest winner, gaining 1.4% on the US dollar. However, the Australian, New Zealand and Canadian dollars also benefitted from China’s turnaround. This was some much-needed relief for these currencies as they have been among the worst-performing in 2016, with the rand falling 6% and the other three falling by 3%.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.