AUD USD Rises Above 72 cents for the first time in 17 months

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For the first time since February 2019, the Australian dollar has risen above 72 cents. It caps off a remarkable period for the Aussie dollar which hit 0.5740 in late March.

The massive rally higher has been driven by:

  • An increase in commodity prices
  • A weaker US dollar
  • Increased risk sentiment

The forecast for the AUD/USD remains uncertain heading into the back half of 2020. While many agree that the US dollar could weaken further, commodity prices are less likely to continue higher. There is also the possibility of increased volatility which historically, has had a negative impact on the Australian dollar.

AUD to USD exchange rates

Time Open Low High
Today 0.7208
In the last week 0.7068 0.7208
In the last month 0.6888 0.7208

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Updated: Posted on