Commodities Obsolete in Models Yielding to Fed, ECB
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Commodities are getting a demotion from foreign-exchange strategists.
Banks from JPMorgan Chase & Co. to Citigroup Inc. are reducing the weighting given to exports in their currency forecasting models as policy makers tighten their grip on financial markets. Traditional commodity currencies, such as those of Canada, Australia, New Zealand and Norway, have become decoupled from exports by the most in as much as 13 years.