AUD in GFC style freefall dropping 10 cents in 10 days

In short

  1. The AUD is collapsing against the US dollar, Euro and Yen
  2. Money is flooding into US dollars as investors seek the safety of 'safe haven' assets
  3. The Australian dollar has reached parity with the New Zealand dollar

AUD to USD exchange rates

Time Open Low High
Today 0.5739
In the last week 0.5530 0.6315
In the last month 0.5530 0.6710

The Australian dollar is in free fall.

In scenes reminiscent of the Global Financial Crisis, the Aussie dollar crashed to 55 cents before making a minor recovery to end the day just above 57 cents.

 

The collapse of the Australian dollar over the past week has been shocking. Today in became disorderly. - Alan Kohler