Economy
July 16, 2020
Currency Update for Steel Trading Nations
Written by Peter Wright
The U.S. dollar weakened against 14 of the 16 steel and raw materials trading nation currencies in the last 90 days, which follows a decline against nine in our June 14 report. The biggest change was in the value of the Australian dollar, which was up by 9.3 percent in three months. The only currencies to decline against the dollar in the last three months were the Brazilian real and the Turkish lira. Experts suggest that the pandemic and demonstrations in the U.S. are putting downward pressure on the dollar on international exchange markets.
