💱🔺 Australian Dollar Lagging Commodities

• The Australian dollar seems to be lagging commodity prices when seen from a long-term. The Bloomberg Commodity Index, BCOM has risen 50% over a one-year period, some desks have highlighted that the AUD looks undervalued especially when compared to commodities. If there was a break of the current range, this could send the AUD/USD to test 0.80.