# Australian dollar undermined by rising US yields ahead of inflation test - Markets - Business Recorder

> The Australian dollar hit a 2.5-month low near $0.6578 as rising US yields lifted the greenback ahead of the Australian quarterly CPI release. The currency has lost about 4.8% in October, its biggest monthly drop since September 2022.

- Date: 2024-10-29 · published 2024-10-29T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/28120-australian-dollar-undermined-by-rising-us-yields-ahead-of-inflation-test
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker Aussie and stronger dollar generally make US-priced commodities cheaper for Australian buyers and can soften US export prices; the currency move is a macro driver rather than a direct grain or feed event.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-09-26 | [Australia, NZ dollars resilient as US yields surge - Markets - Business Recorder](https://feedsoft.ai/events/34381-australia-nz-dollars-resilient-as-us-yields-surge-markets-business-recorder.md) | +0.8% | +1.3% |
| DXY | 2024-12-31 | [Australia, NZ dollars see out tough year, more risk ahead - Markets - Business Recorder](https://feedsoft.ai/events/27214-australia-nz-dollars-see-out-tough-year-more-risk-ahead-markets-business.md) | -0.2% | -0.4% |
| DXY | 2026-08-31 | [Dollar slips ahead of US jobs data - Markets - Business Recorder](https://feedsoft.ai/events/18078-dollar-slips-ahead-of-us-jobs-data-markets-business-recorder.md) | -0.6% | +1.6% |
| DXY | 2022-02-11 | [Rate hike bets support the dollar amid surging US inflation - Markets - Business Recorder](https://feedsoft.ai/events/42876-rate-hike-bets-support-the-dollar-amid-surging-us-inflation-markets-business.md) | +0.1% | +2.2% |
| DXY | 2021-07-13 | [Pound extends fall after US inflation data lifts dollar - Markets - Business Recorder](https://feedsoft.ai/events/46308-pound-extends-fall-after-us-inflation-data-lifts-dollar-markets-business.md) | +0.7% | +0.6% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40329531

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.