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The Australian dollar rose above US72 cents for the first time since early 2019 and is expected by some strategists to rise further. The rally is attributed to US dollar weakness as its safe-haven status weakens amid rising COVID-19 cases in the US.
Stronger Aussie currency could reduce earnings for ASX companies with US dollar exposure.
A stronger Australian dollar reduces the local cost of imported feed ingredients and lowers the competitiveness of Australian exports. Dollar weakness also supports dollar-priced commodities such as grains and oilseeds.
fool.com.auBrendon LauJul 31, 2020After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% over 20.
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.
