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Commodity Currencies Will Get Bit If US Steel Tariffs Have Teeth
Commodity-linked currencies such as the Australian and New Zealand Dollars have joined fully in the current bout of US Dollar weakness but may lose some pep if global trade protectionism comes once more to the fore. And it might. The US Commerce Department laid out last Friday a range of tariff options for President Trump to consider on imports of steel and aluminum. They reportedly range from a blanket increase in levies on all imports to more targeted measures against certain countries. China has already called current US protection of its domestic iron and steel markets excessive and reserved the right to ... (full story)