Australian dollar falls 1 cent as governments roll out stimulus measures to combat COVID-19

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In short

  1. Markets rally on the back of announced stimulus measures
  2. USD strengthens forcing AUD/USD down 1 cent
  3. AUD falls against the Euro and NZ dollar but flat against the pound and yen

AUD to USD exchange rates

TimeOpenLowHigh
Today0.6491
In the last week0.64720.6681
In the last month0.64640.6748

The Australian dollar has fallen more than 1 cent agains the US dollar.

The US dollar strengthened after Donald Trump announced measures the US government would take to stimulate the economy. This includes tax cuts, loans and financial relief. These measures are aimed at boosting the economy as it enters the uncertain face of the coronavirus. The Australian prime minister is due to make a similar announcement this week.

 

 

Following the statement, markets rallied. The US dollar strengthened and the AUD/USD exchange rate fell from above 66 cents to below 65 cents this morning.

Against the other major currencies, the Australian dollar was down agains the euro but flat against the pound, kiwi dollar and yen.