# The Aussie dollar is dropping against the US currency, but it’s not all bad news - ABC News

> The Australian dollar has fallen against the US dollar as US Federal Reserve rate hikes lifted the greenback. Australian businesses face higher import costs, although the Aussie is stronger against many other currencies.

- Date: 2022-10-04 · published 2022-10-04T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/39392-the-aussie-dollar-is-dropping-against-the-us-currency-but-it-s-not-all-bad-news
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A strong US dollar raises the local cost of dollar-priced imports and can cut demand for imported feed ingredients in Australia, while supporting Australian exporters.

## Read by commodity

- DXY: bullish ▲
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-09-28 | [Chinese yuan: Currency hits record lows against US dollar - BBC News](https://feedsoft.ai/events/7208-chinese-yuan-currency-hits-record-lows-against-us-dollar-bbc-news.md) | -1.8% | -1.5% |
| DXY | 2022-12-27 | [USD to AUD Forecast: Why The US Dollar Is Strengthening Against The Australian Dollar](https://feedsoft.ai/events/38485-usd-to-aud-forecast-why-the-us-dollar-is-strengthening-against-the-australian.md) | +0.1% | -2.5% |
| DXY | 2023-06-01 | [Why is the US dollar so strong again?](https://feedsoft.ai/events/35846-why-is-the-us-dollar-so-strong-again.md) | -0.9% | -1.2% |
| DXY | 2020-03-24 | [US dollar to test 105 against basket of currencies, says analyst](https://feedsoft.ai/events/6585-us-dollar-to-test-105-against-basket-of-currencies-says-analyst.md) | -2.3% | -2.4% |
| DXY | 2022-07-29 | [The strengthening of the U.S. dollar against the Latin American currencies - Latinoamérica 21](https://feedsoft.ai/events/40785-the-strengthening-of-the-u-s-dollar-against-the-latin-american-currencies.md) | -0.2% | +0.8% |

## Sources

- abc.net.au: https://www.abc.net.au/news/2022-10-05/usd-aud-exchange-rate/101492848

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