There is no direct relationship between the Iron Ore price and the US dollar.
Except they both react to global macro trends.
However their relationships ends there, to try sell that idea is just ignorant.
All you have to do is put both charts together to see for yourself.
Quite obviously the higher the US dollar is the more money Atlas makes because all their costs are in Australian dollars and they get paid in US dollars.
To illustrate my point even further you just need to look at the recent rises in the Iron Ore price at the same time the US dollar has gone up! If there was truly a relationship (which there isn't) going on recent figures it would clearly be contrary to your argument!
Iron Ore up again yesterday! Up 40cents now $136.80/dmt US
Australian dollar up slightly now buying 91 US cents.
There hasn't been any correction! The Atlas Iron SP has gone up over 70% in 5 months!
AGO Price at posting:
$1.13 Sentiment: Hold Disclosure: Not Held
