AUDUSD Technicals: AUDUSD pushes to a four - month high as copper reaches a new record
The AUDUSD is extending higher, helped by rising commodity prices and renewed strength in copper, which reached another record high today.Australia is a major commodity exporter, particularly of iron ore, coal and liquefied natural gas. It is also one of the world’s leading copper producers. As a result, the Australian dollar is often viewed as a “commodity currency.”When commodity prices rise, Australia’s export revenues and terms of trade can improve.
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