AUD DOLLAR

Why has the Australian dollar been heading higher?

The Australian dollar has recently been rallying strongly against the US dollar. After plunging to a 17 year low of 57.18 US cents on 19 March, it has since recovered dramatically. At time of writing, one Australian dollar will now buy 70 US cents.  With the Australian dollar generally viewed as a “risk” asset, why has it been strengthening amidst the COVID-19 pandemic? Iron Ore Prices The Australian currency is heavily correlated to the commodity prices.  When commodities do well …

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