Commodity currency Canadian dollar, New Zealand dollar, Norwegian krone, South African rand, Brazilian real, Russian ruble and the Chilean peso. Due to the nature of commodity currencies being tied to commodities, being tied to any one good can be beneficial as well as problematic for the country. While naturally, falling or rising exports will lead to deflation or inflation respectively in any country the impacts are more severe in countries with commodity currencies at their currency is so heavily tied to a set few commodities. According to a 2009 study on commodity currency titled “Can Exchange Rates Forecast Commodity Prices?” by Yu-chin
Currency war their capacity to do so. Ratings are based on the openness of a country's economy, export growth and real effective exchange rate (REER) valuation, as well as the scope a country has to weaken its currency without damaging its economy. , Indonesia, Thailand, Malaysia, Chile and Sweden are the most willing and able to intervene, while the UK and New Zealand are among the least. From March 2013, concerns over further currency war diminished, though in November several journalists and analysts warned of a possible fresh outbreak. The likely principal source of tension appeared to shift once again, this time