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Aussie dollar soars against slumping greenback
- On Tuesday, the Australian dollar surged about 1.3% to 70.1 US cents, reaching its strongest level since February 2023 as markets awaited domestic data.
- Broadly, the US dollar's slide has accelerated amid geopolitical uncertainty, while rising commodity prices and stronger domestic employment data have helped underpin the Australian dollar.
- Ahead of the ABS release at 11:30am, Warren Hogan said a 0.8 or higher quarterly inflation rate would require a rate hike on February 4, 2026.
- Mortgage holders face a 'make or break' inflation figure on Wednesday while ASX futures point to a 0.4% gain ahead of local trading.
- The RBA's mandate requires balancing full employment and stable inflation as unemployment fell and 65,000 new jobs were added last year.
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Australian dollar cracks 70 US cents on climb to three-year high
The Australian dollar has surged overnight to its highest level against its US counterpart since February 2023, driven by a plunge in the greenback.The Aussie currency was buying US70.11 cents earlier today after climbing 1.4 per cent.It hit the mark in the lead-up to the release of new inflation figures today, expected at 11.30am.READ MORE: The silver lining for the Australian dollarThe Reserve Bank of Australia is tipped to lift interest rate…
·Australia
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Coverage Details
Total News Sources17
Leaning Left7Leaning Right5Center1Last UpdatedBias Distribution54% Left
Bias Distribution
- 54% of the sources lean Left
54% Left
L 54%
R 38%
Factuality
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