# Aussie hits fresh three-year highs against the US dollar, close to 80 US cents

> The Australian dollar rose to three-year highs near 80 US cents after dovish testimony from Fed Chair Powell reinforced expectations of low rates and reflation. Commodity-linked currencies including the Canadian and New Zealand dollars also gained against the US dollar.

- Date: 2021-02-24 · published 2021-02-24T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/48819-aussie-hits-fresh-three-year-highs-against-the-us-dollar-close-to-80-us-cents
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger Aussie and Canadian dollar reflects reflation bets that support commodity demand, while a weaker U.S. dollar tends to lift dollar-priced grain and oilseed values.

## Read by commodity

- DXY: bearish ▼
- AUDUSD: bullish ▲
- USDCAD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-02-26 | [Australian Dollar reclaims three-year high against US Dollar on hawkish RBA bets](https://feedsoft.ai/events/20852-australian-dollar-reclaims-three-year-high-against-us-dollar-on-hawkish-rba-bets.md) | +1.1% | +2.0% |
| DXY | 2019-06-21 | [Thai Baht hits six year high - 31.05 to the US dollar \| Thaiger](https://feedsoft.ai/events/58869-thai-baht-hits-six-year-high-31-05-to-the-us-dollar-thaiger.md) | -0.1% | +0.1% |
| 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 | 2023-12-27 | [Dollar hits 5-mth low against euro as Fed seen closer to rate cuts](https://feedsoft.ai/events/32899-dollar-hits-5-mth-low-against-euro-as-fed-seen-closer-to-rate-cuts.md) | +0.7% | +1.6% |
| DXY | 2020-08-31 | [AUD touches fresh two year high as US dollar downturn deepens - OFX](https://feedsoft.ai/events/51892-aud-touches-fresh-two-year-high-as-us-dollar-downturn-deepens-ofx.md) | +0.1% | +1.4% |

## Sources

- smh.com.au: https://www.smh.com.au/business/markets/aussie-hits-fresh-three-year-highs-against-the-us-dollar-close-to-80-us-cents-20210225-p575n9.html

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