AUD, CAD, CLP vigilant on USD – Danske Bank

In view of Jakob Christensen, Chief Analyst at Danske Bank, the commodity-related currencies should keep the attention on the greenback.

Key Quotes

“Commodity currencies AUD, CAD and CLP, which are positively correlated with base metal prices, have kept track with USD in recent days, where the rally in base metal prices has picked up steam again, e.g. the price on LME copper is trading at the highest level since mid-2015”.

“Overall, the rally in the broad dollar has taken a breather over the past couple of days but we look for it to extend further near term”.