Currencies That Could Tank As Commodities Collapse

A big story this year has been the decline in commodities.

That's bad news for countries and currencies that are closely tied to commodities.

In a note, Sebastien Galy has a quick rundown of what currencies are associated with what commodities:

Aussie Dollar : aluminum, coal & wheat
Canadian Dollar : oil and wheat
South African Rand : coal & platinum
Chilean Peso : copper
Mexican Peso: oil & silver
Russian Rubel: oil, nickel, platinum, wheat
Brazilian Real: oil
Norwegian Kroner: oil