The mystery of yen strength and the benefits of commodity currencies

One interesting feature of the past few days has been the strength in commodity currencies. The Australian dollar, the New Zealand dollar and the Canadian dollar have been some of the best performers of the past weeks, in the absence of any significant action in major pairs. The reason has maybe more to do with the oil price. Oil is managing to hold on to the $40 level for now and this is lending support to these currencies – particularly the Canadian dollar. There are expectations that major oil producers will reach some sort of agreement when they meet in Doha, Qatar on Sunday, April 17. This – together with indications that ... READ MORE