Commodity Currencies - What's the Impact of the Higher Commodities Prices?

Commodity exporting currencies have seen a big terms of trade boost, which we think is very supportive going forward. But they've also struggled a little bit because they're all riskon currencies,. It's been a bit of a head wind, and they haven't fully benefited from the rally we've seen in broader commodity prices. We think that ther's scope for continued yen under performance, especially relative to commodity currencies.