# 2 Reasons the Australian dollar has charged higher above 69 cents - S Money

> The Australian dollar climbed above 69 US cents in early June, with traders citing a weaker US dollar and strong iron ore prices above US$100 a tonne. The rise followed a 24 per cent gain from the March low.

- Date: 2020-06-02 · published 2020-06-02T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/52880-2-reasons-the-australian-dollar-has-charged-higher-above-69-cents-s-money
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Iron ore strength reflects Chinese steel demand and Brazilian supply disruptions, which supports Australian export earnings. A firmer Aussie makes Australian grain and feed exports less competitive in US dollar terms.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- smoney.com.au: https://www.smoney.com.au/news/2-reasons-the-australian-dollar-has-charged-higher-above-69-cents/

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