Economy
September 16, 2020
Currency Update for Steel Trading Nations
Written by Peter Wright
The U.S. dollar weakened against 12 of the 16 steel and raw materials trading nation currencies in the last 30 days and against 11 in the last 90 days, which is similar to the declines that we reported for June and July. The biggest changes in the last 90 days were in the value of the Australian dollar, which was up by 6.7 percent; the Mexican peso, up by 6.6 percent; and the euro, up by 5.3 percent. On the downside, the Russian ruble was off by 6.8 percent and the Turkish lira by 8.7 percent. These trends all continued at the 30-day level.
