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ANZ: Iron Ore Returns As Key Signal For AUD

AUSSIE

ANZ note that "supply constraints have started to dissipate from the industrial metals markets. This means the price of these commodities better reflect underlying demand dynamics, which has improved their reliability as signal for the AUD. As the economy continues to normalise, relative terms of trade are emerging as one of the primary drivers of the AUD. This should be a net positive for the currency as China-centric growth continues to buoy hard commodity prices."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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