- The top three currencies with the tightest correlations to commodities are the Australian dollar, the Canadian dollar and the New Zealand dollar.
- On a daily basis, the correlation between oil and the Canadian dollar may fluctuate, but over the long term, it has been strong.
- A combination of strong commodity prices and a weakened U.S. dollar have boosted the Australian and New Zealand dollars.
- The prospect of prolonged U.S. inflation may benefit all of these currencies, as the U.S. dollar remains under pressure and the world regains its footing from the COVID-19 pandemic.
For further details see:
The Currencies Benefiting From A Commodities Surge