The Australian Dollar motors to a 21 month high over the weekend
The Australian dollar moved higher over Friday and Saturday, pushing to a 21-month high against the US dollar. Once again, the move higher was driven largely by a weaker US dollar. So how does it work? Well, if the US dollar weakens and the Australian dollar remains the same, then the AUD/USD exchange rate goes higher. The opposite is true too. If the US dollar gets stronger and the Australian dollar doesn’t change, then the AUD/USD rate will fall. In this case, the US dollar has been falling for 4 straight months. This is a big change from earlier in 2020 […]