By Allison Bennett and Lucy Meakin – Aug 14, 2012
The strength of the Aussie is increasingly driven by reasons other than raw materials as growth slows for exports to China, its largest trading partner. Prices for iron ore delivered to the port of Tianjin have dropped to the lowest level since December 2009, according to Steel Index Ltd., and contracts for coal used to make steel may fall 11 percent to the lowest price in two years, according to a Bloomberg survey of seven analysts and industry officials.
via Correlation Breakdown as Proxies for Risk Boost Aussie, Kiwi – Bloomberg.