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.