The commodity dollars made a sharp decline early in the Asian session today. There wasn’t anything on the economic calendar, so that decline looked a bit strange in the morning, but after having a look around, I saw that iron ore prices had fallen by more than $30 during the night.
Australian is a big exporter of raw materials and this decline in iron ore was what hurt the Aussie last night. That comes on top of China making it difficult for Australian coal exports to enter the country.


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