# Australian dollar surges past 68 US cents, ASX volatile on US-China tension - ABC News

> The Australian dollar traded as high as 68.13 US cents on June 2, its highest level since late January. The move followed a weaker US dollar and strong iron ore demand, while the ASX 200 closed 0.3 per cent higher.

- Date: 2020-06-01 · published 2020-06-01T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/52875-australian-dollar-surges-past-68-us-cents-asx-volatile-on-us-china-tension-abc
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A weaker US dollar and firm iron ore prices lift the Aussie, which makes Australian commodity exports less competitive in dollar terms. The effect on feed grain prices is marginal.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- abc.net.au: https://www.abc.net.au/news/2020-06-02/australia-dollar-surge-asx-wall-street-us-china-tension/12310220

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