Mar 19

The decline of the Aussie … almost halved in value since July 2011

The above interactive chart shows what the latest crisis events have invoked on the Aussie dollar. At the time of writing trading around $0.57US which is down from a high in July 2011 around $1.10US … so almost half.

Unfortunately for our currency this is what happens when crises occur … investors run to the safe havens of the US Dollar, which is still the global reserve currency.

That said, considering Iron Ore is still high at around $100USD, there is strengthening potential … just our near zero interest rates serves as a brake.

Chart 2 – Iron Ore Prices in USD – since 2012 and to 19 Mar 2020 – 4pm AEST

Iron Ore - 19 Mar 2020

Source: Bloomberg

   Send article as PDF   

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Get every new post on this blog delivered to your Inbox.

Join other followers: