Currency spotlight: AUD/USD

While not coming close to the volatility witnessed during the early stages of the Covid-19 pandemic in 2020, the AUD/USD exchange rate has nonetheless undergone quite a wild ride in the first two months of 2021 (Chart 1). From a low of 0.7564 on February 2, AUD/USD briefly traded above 0.80 on 25 February (high of 0.8007), the first time it has been above this psychologically important level since 2 February 2018. The most remarkable feature of trade in the AUD so far in 2021 has been the speed and magnitude of the fall-back in just 24 hours right at the end of February, from above 80 cents to below 77 cents. A … (full story)

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