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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

Australian Dollar Falls on Stock and Oil Drop

The Australian dollar fell today against the Japanese yen after the U.S. stocks failed to demonstrate Monday’s growth and the Japanese Nikkei showed poor dynamics during the earlier Asian trading session.

Australian Dollar Rebounds after Rate Cut

The Australian dollar got boosted by the central bank’s decision to cut the interest rate by 1 percentage point today and recovered against the other major currencies during the Asian trading session.

Australian Dollar Has Worst Week Since 1985

The Australian dollar posted the biggest weekly loss since 1985 against the U.S. dollar this week, as the traders dumped their positions in the high interest rate currencies, while the situation with the global financial system remained uncertain.

Buy AUD for NZD Can be Next Big Trade Idea

The Australian currency may experience considerable gains against the New Zealand dollar soon as the New Zealand’s central bank showed commitment to the extreme rate cutting in the fear of recession, while Australian central bank may refrain from changing the rate for now.

Aussie and Kiwi Continue Bearish Trend

Both Australian and New Zealand currencies continued to fall against the U.S. dollar today as the traders’ confidence that the central banks of those countries will cut interest rates soon rose and the dollar continued its growth against euro, pound and yen.

Aussie Falls on RBA Rate Cut Signals

The Australian dollar declined to its lowest value against the U.S. dollar since July today after the central bank statement said that lower inflation may allow interest rate cuts in the future.

Australian Dollar Falls on Housing Decline

The Australian dollar fell today to the the one-month lowest level against the U.S. dollar after the report of unexpected drop in housing approvals in June.

AUD Gains on U.S. Credit Market Losses

The Australian currency rose its highest value in last 25 years against the U.S. dollar as the credit markets continued to lose on the mortgage lending crisis in the United States.

Australian Dollar Fell on Less Home-Loans

The Australian dollar declined today on Forex during the Asian trading session after the report on home-loans showed a massive decline in the sector and the consumer sentiment index dropped to its lowest level since 1992.

AUD at 25-Year High against Greenback

The Australian dollar reached a record high value since February 1983 against its counterpart from the United States today as the USD slumped and the commodity currencies grew on optimism.