Reported 2 days ago
The Australian dollar has seen significant decline, dropping 9.2% in 2024 and likely to fall below 60 US cents due to deteriorating global risk sentiment and expectations of interest rate cuts by the Reserve Bank of Australia (RBA). A looming trade war between the US and China, Australia's biggest trading partner, adds pressure. Analysts suggest the currency could test its October 2022 low of 61.70 cents soon, especially if upcoming inflation data prompts increased speculation for an RBA rate cut.
Source: YAHOO