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The Australian dollar retreated from a high of 0.7407 as month-end rebalancing and renewed China diplomatic tensions weighed on the currency. Beijing's inflammatory tweet over Australian special forces conduct drew a demand for an apology that was refused.
The AUD had gained about 4.5% during November.
Rising China-Australia tensions raise the risk of trade restrictions on Australian grains and barley, which would shift export flows and pressure AUD-linked prices.
ofx.comTuesdayNov 30, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
