| All that Trump campaign chatter about making America great again has done wonders for the US dollar. This past week the greenback hit 13-year highs. Another asset class having a storming year: shares in mining companies. The MSCI world metals and miners index is up 90 per cent from its January low. Yet history suggests the two cannot rally in tandem for long.
The surge in metals and miners is largely down to China. Demand there is key to most metals, not least steel. At the start of this year, worry-worts moaned about an imploding Chinese steel industry exporting cheap steel elsewhere.............................................Full Article: Source |