# The Australian dollar is surging. Here’s why

> The Australian dollar rose about 4% against the US dollar in just over two weeks, reaching around US66.5 cents and touching US67 cents, its highest since late July. The move followed a broad weakening of the US dollar after Fed Governor Christopher Waller said he was increasingly confident policy was well positioned to bring inflation down.

- Date: 2023-11-29 · published 2023-11-29T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/33404-the-australian-dollar-is-surging-here-s-why
- 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 stronger Aussie and weaker dollar make US dollar-priced commodities cheaper for Australian and other non-US buyers, modestly supporting dollar-denominated grain and meal prices. The shift is currency-driven rather than supply-driven.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-01-24 | [Why the dollar is weak](https://feedsoft.ai/events/67171-why-the-dollar-is-weak.md) | -0.8% | -0.1% |
| DXY | 2023-07-28 | [Why is the US dollar losing its shine?](https://feedsoft.ai/events/35220-why-is-the-us-dollar-losing-its-shine.md) | +1.3% | +2.0% |
| DXY | 2019-10-20 | [Australian Dollar opens at 4-week highs against the U.S Dollar - OFX](https://feedsoft.ai/events/56830-australian-dollar-opens-at-4-week-highs-against-the-u-s-dollar-ofx.md) | -0.0% | +0.2% |
| DXY | 2023-12-02 | [Finance, markets: Why the Australian dollar is soaring \| news.com.au — Australia’s leading news site for latest headlines](https://feedsoft.ai/events/32979-finance-markets-why-the-australian-dollar-is-soaring-news-com-au-australia-s.md) | +0.7% | -0.6% |
| DXY | 2017-08-31 | [Australian Dollar has 80c in sight - OFX](https://feedsoft.ai/events/69699-australian-dollar-has-80c-in-sight-ofx.md) | -1.4% | +0.8% |

## Sources

- smh.com.au: https://www.smh.com.au/business/markets/why-the-australian-dollar-is-surging-20231129-p5enml.html

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