The Devastation in Global Commodity Currencies Is Far From Over
Canada, Australia, New Zealand currencies set to plunge, OppenheimerFunds says
Commodity Prices: Doing the 'Rational' Thing?
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A bounce in crude oil and other commodity prices Tuesday halted a plunge in currencies of countries linked to natural-resource exports. The respite will be short-lived, according to OppenheimerFunds Inc.
The Canadian, Australian and New Zealand dollars are off to the worst start to a year since the financial crisis. The nations are grappling with a 29 percent drop in raw-material prices amid swelling supplies and slowing demand in China that may wipe out as much as 14 percent of the Canadian dollar's value in the next three years.