The Dynamics of ‘Commodity Currencies’ Like the Australian Dollar and Norwegian Krone
Countries that are rich in a particular resource, and capable of exporting that resource in large volumes, are known as having "commodity currencies." This can provide major support to the value of a country’s currency, but can also prove a major drag on the currency when global demand for the relevant commodity is low. After a difficult 2022, dominated by central banks combating inflation by raising interest rates, how are the major commodity currencies faring? Presented by @cmegroup: https://www.cmegroup.com/openmarkets/the-return-of-commodity-currencies.html?utm_source=youtube&utm_medium=paid_social&utm_campaign=quicktake_evergreen&utm_content=more_insights
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