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The Australian dollar is the official currency of the Commonwealth of Australia. It is often called the Aussie by Forex traders. The currency was implemented in 1966 and allowed to freely float at 1983. Australia has an export-driven economy (the mining sector represents 19% of GDP), therefore the value of the Aussie depends on commodity prices. Australia has strong trading ties with Asia, particularly China, so economic growth in that region has a particularly strong impact on Australia’s currency. The Aussie is used in carry trade because of the relatively high interest rates in Australia.

Australian Dollar News Archive

AUD, NZD Benefit from Japan’s Intervention Rumors

Both Australian and New Zealand currencies benefited from the speculations that the Japanese authorities will have to use currency intervention to hold down the yen’s growth.

AUD Recovers After Falling on Opening

The Australian dollar fell against all of its major counterparts at today’s Forex market opening, as Australia may be left without a majority government for the first time since 1940. The Aussie has immediately entered an uptrend after this negative opening.

Australian Dollar Falls This Week on Poor News for Riskier Assets

This week was volatile for the Australian dollar, but it generally declined against most other major currencies as the concern for the economic growth continues to haunt the markets.

Aussie Falls on Lower Wages Growth

The Australian dollar fell today against the Japanese yen on the speculation that Japan’s central bank will refrain from curbing the yen’s gains and after Australia’s wages growth slowed. The Aussie also dropped versus the greenback.

Aussie Rallies for Second Day on Stocks & Economic Outlook

The Australian dollar rallied against its US counterpart today after the Asian stocks rose, increasing the demand for the riskier higher-yielding currencies, and on the improving outlook for the global economic growth.

Aussie & Kiwi Decline on Unemployment

The Australian and the New Zealand dollars fell today after the jobless claims in the US rose unexpectedly and equities dropped, damping the investors’ willingness to risk and decreasing the appeal of the higher-yielding currencies.

Aussie Weakens on Reduced Demand for Riskier Assets

The Australian dollar fell today as the signs of the slower economic growth, particularly in the US and China, damped the demand for the riskier currencies.

Aussie Rises on Anticipation of Lower US Employment

The Australian dollar rose today and is heading for the third weekly gain versus the greenback as today’s report expected to show that the US employment decreased.

Aussie Strengthens on Economic Growth

The Australian dollar reached today the highest level in almost three months versus its US counterpart and advanced against the Japanese yen as the signs of the robust economic growth supported the outlook for the unchanged interest rates and spurred the demand for the higher-yielding assets. The currency fell versus the euro.

Aussie Falls as Low Inflation Promises Unchanged Interest Rates

The Australian dollar fell today for a second day against its U.S. counterpart as the in inflation rose slower than expected, fueling the speculation that the central bank would keep the interest rates unchanged.