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Worst Seen Coming for Currencies Ensnared in Commodities Fallout

  • BNP Paribas sees downward momentum, Barclays notes headwinds
  • Real, rand fall to records, krone, loonie lowest in a decade
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To foreign-exchange traders, the currencies of commodity exporters are all in the same boat -- and it’s going down.

The long suffering exchange rates for Australia, Canada and Brazil have become increasingly correlated with each other during the past month, and banks including BNP Paribas SA, citing an indicator of momentum, and Barclays Plc, noting economic headwinds, say there are more losses to come.