Currency fluctuations and the global economic climate have been the two major influences on wool trade in recent weeks. The weakness of currencies in producing countries has been helpful, buoying prices in domestic denominations, while rendering export quotations in US dollar terms more competitive. During the two weeks ended September 23, the Australian Wool Exchange's Eastern Market Indicator (EMI) fell by A$59 cents/kg, or 5.0%, to A$1,235/kg clean, its lowest value since January. The EMI expressed in US dollars has fallen by no less than US$135 cents/kg, or 10%, during the same timeframe, to US$1,236/kg.
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