Economy
October 15, 2020
Currency Update for Steel Trading Nations
Written by Peter Wright
The U.S. dollar weakened against 15 of the 16 steel and raw materials trading nation currencies in the last 30 days and against 12 in the last 90 days, which is similar to the declines we reported in our last two updates. The biggest changes in the last 90 days were in the value of the Mexican peso, up 8.6 percent, the Korean won, up 6.9 percent, and the South African rand, up 8.9 percent. The Russian ruble was down 2.6 percent and the Turkish lira was down 6.5 percent. At the 30-day level, the Turkish lira bounced back by 6.7 percent and the Brazilian real was up by 7.9 percent.
