Economy
June 21, 2019
Currency Update for Steel Trading Nations, June 16, 2019
Written by Peter Wright
In this report, we examine the change in currency values of the 16 preeminent global steel trading and iron ore trading nations. The currencies of these 16 don’t necessarily follow the Broad Index value of the U.S. dollar. In fact, at any given time, some are always moving in the opposite direction. The latest value of the Broad Index as published by the Federal Reserve was June 14. In three months prior to that date, the dollar had strengthened by 0.7 percent and had weakened by 0.3 percent in the previous 30 days. Three currencies declined significantly in the last three months: the UK pound, the Korean Won and the Turkish lira. In this month’s update, we will examine the history of these three. (See the end of this report for details of data sources.)
