U.S currency value impacts world steel export price: stronger dollar = weaker export price

摘要

The U.S. dollar on a trade-weighted basis - i.e., calculated on the basis of the U.S.'s trade with about 26 other countries - has had amazing swings over the years (Fig. 1). From a weak point of just 0.85 in 1978, it peaked at about 1.28 in 1984. By 1995, it had fallen again to 0.85, followed by a strengthening to about 1.13 in 2002. In 2014, it was down again to only 0.80; but, it then rallied to 1.03 in 2016. Currently, it's about 0.90.