The Aussie dollar rockets to a 15-month high above 71 cents
Yesterday, the Australian dollar pushed higher to hit a 15-month high. A softer US dollar helped propel the AUD/USD rate to 0.7181 before easing back about 0.5% this morning. The Aussie dollar managed to strengthen despite a rise in coronavirus cases both locally and in the US. The extension of the JobKeeper and JobSeeker programs by the federal government set a positive tone for the local currency which also move higher agains many other major currencies. While a higher AUD benefits Australians heading overseas, most locals can’t take advantage of it with international travel bans likely to remain in place […]
The Australian Dollar hits 70 cents for just the third time in 2020
After weeks of flirting just short around 69 cents, the AUD/USD exchange has risen back above 70 cents for only the third time in of 2020. The Australian dollar traded between 0.6850 and 0.6950 for much of June and the first half of July before breaking higher. A mixture of higher commodity prices, particularly iron ore and a weaker US dollar was enough to finally crack through 70 cents. Against the other major currencies, the Aussie dollar has barely moved. In the last month, it has been largely unchanged against the British Pound, Euro, Japanese Yen and New Zealand Dollar.
The Australian dollar hits 70 cents for the first time since the start of 2020
The Australian dollar has risen back above 70 cents for only the second time since the first week of 2020. It has now recovered more than 20% since bottoming out in March when it fell below 58 cents. The amazing surge of the Australian dollar largely reflects a changing mood across global markets that not only is the worst of the COVID-19 pandemic behind us, but also that the impact will be less severe than previously forecast. The AUD has performed strongly, not just against the US dollar. It has risen sharply against most major currencies. The AUD to EUR exchange […]
2 Reasons the Australian dollar has charged higher above 69 cents
The Australian dollar (AUD) has charged higher to 69 cents against the US dollar. It is largely been driven by A weaker US dollar Strong iron ore prices A weaker US dollar During the start of the COVID-19 pandemic, the US dollar got stronger and stronger. Fear griped the market, creating massive demand for US dollars and US dollar ‘safe haven’ assets like US treasuries. Since the middle of March, as infection rates in many western countries peaked, markets started to focus on the recovery. As conditions improved, markets became more optimistic, moving money back out of the US dollar, […]
Australian Dollar reaches a 3 month high on recovery hopes
In short The AUD/USD hits a 3 month high of 0.6675 as hopes for an economic recovery increase The Australian dollar is nearly 12 cents higher from its lows in late March The AUD has also rallied higher against the Euro, Yen and British Pound in the past 2 months Time Open Low High Today 0.6625 In the last week 0.6511 0.6675 In the last month 0.6376 0.6675 The Aussie dollar has made a remarkable recovery to hit a 3 month high against the US dollar at 0.6675. As the world entered the economic downturn caused by COVID-19, the Australian […]
How Much Spending Money You’ll Need in the USA for 1, 2 or 4 Weeks
It’s not an easy task to figure out how much spending money to take to the USA. The United States keeps you on your toes with every American state (and sometimes even individual cities within states) imposing its own tax rates and rules. Those rates and rules will affect everything you buy, from your Statue of Liberty souvenirs to tickets to a baseball game. In Montana, for instance, there’s no sales tax. But in Louisiana, it’s 10%. All of that means there’s no standard budget you can apply to every state. On top of that, how much you spend will […]
