Australian recession Commodities Global Macro

Mining GFC enters new phase as US dollar breaks

David Llewellyn-Smith

Tuesday 3 May 2016

The US dollar continues to fall pushing the Mining GFC into a new phase:

Last night the culprit was more the euro than the yen:

Most commodity currencies fell anyway owing to oil:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.