# Finance, markets: Why the Australian dollar is soaring | news.com.au — Australia’s leading news site for latest headlines

> The Australian dollar reached a three-month high near US$0.67 in early December, gaining nearly 5% over November, its strongest monthly gain of 2023. The gain was driven mainly by a broad slide in the US dollar index, which fell more than 3% in the month.

- Date: 2023-12-02 · published 2023-12-02T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/32979-finance-markets-why-the-australian-dollar-is-soaring-news-com-au-australia-s
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Broad US dollar weakness lifts dollar-priced commodity values and can support export-oriented demand for grains and meals, though the currency move alone does not change physical supply.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-11-29 | [The Australian dollar is surging. Here’s why](https://feedsoft.ai/events/33404-the-australian-dollar-is-surging-here-s-why.md) | +1.0% | -0.9% |
| DXY | 2020-12-01 | [Why the U.S. dollar is trading at a 2 1/2-year low - MarketWatch](https://feedsoft.ai/events/49845-why-the-u-s-dollar-is-trading-at-a-2-1-2-year-low-marketwatch.md) | -1.2% | -1.7% |
| DXY | 2017-07-31 | [Australian Dollar Lagging The Other Majors As Traders Await The RBA \| Investing.com AU](https://feedsoft.ai/events/70237-australian-dollar-lagging-the-other-majors-as-traders-await-the-rba-investing.md) | +0.3% | -0.5% |
| DXY | 2019-06-02 | [The Australian dollar is grinding higher as expectations for rate cuts from the US Federal Reserve build](https://feedsoft.ai/events/58849-the-australian-dollar-is-grinding-higher-as-expectations-for-rate-cuts-from-the.md) | -0.8% | -1.8% |
| DXY | 2020-12-30 | [Australian, NZ dollars on the rise as US$ crumbles - Markets - Business Recorder](https://feedsoft.ai/events/49897-australian-nz-dollars-on-the-rise-as-us-crumbles-markets-business-recorder.md) | -0.6% | +0.4% |

## Sources

- news.com.au: https://www.news.com.au/finance/markets/australian-dollar/why-the-aussie-dollar-is-at-a-threemonth-high/news-story/d57814acd245bc2df6a27d7ca030887c

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