Yes people forget that a strong USD and weak BRL / AUD is the perfect cocktail for our earnings.
Of course it would be nice to see copper higher, but infact even though copper is down 10% in past 3 or 4 weeks the AUD is also down nearly 10% so the copper price in AUD has hardly changed, and yet our SP has been punished, dropping a whopping 20%. When you stand back and look at this equation the SP drop is a little overdone IMO. Just shows you how powerful sentiment is.
Owen and Kalenn and a few others keep reminding us of this, but its easy to get swept away with the negative copper price and forget what the currencies are doing at the same time.
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