# Australian dollar surges on record iron ore prices amid China tensions

> The Australian dollar rose to its highest in over two years, above 0.75 against the US dollar, as iron ore futures on the Dalian exchange surged about 10% to an all-time high above 1,000 yuan per ton. Analysts attributed the rally to Chinese demand and dwindling Australian supply after storms disrupted output at Port Hedland.

- Date: 2020-12-14 · published 2020-12-14T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/49896-australian-dollar-surges-on-record-iron-ore-prices-amid-china-tensions
- Commodities: [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md)

## Why it matters

Iron ore strength lifts Australian export earnings and the AUD, but for feed buyers this is a currency and freight-adjacent signal with little direct effect on feed grain or meal supply.

## Read by commodity

- USDCNY: neutral

## Sources

- cnbc.com: https://www.cnbc.com/2020/12/14/australian-dollar-surges-on-record-iron-ore-prices.html

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