Via a BoA note, analsyts say higher commodity prices are only tentatively priced in resource-linked currencies.

Say that as commodity price gains pick up further the currencies are likely to rise

  • Single out NOK citing a more hawkish central bank
  • Also like AUD citing exports of copper, lithium. cobalt

As background they point to:

  • US fiscal spend (esp infrastructure)
  • China demand
Via a BoA note, analsyts say higher commodity prices are only tentatively priced in resource-linked currencies.