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The Australian dollar fell below 60 US cents, its lowest level since 2003, as a global scramble for US dollars created a shortage. The fall of about 10 per cent in under a fortnight reflects both the coronavirus hit to China's economy and Australia's looming recession.
A sharply weaker Aussie dollar lowers the cost of Australian grain, meal and barley exports for dollar buyers, which can pressure world prices. Weak China demand also reduces import needs for Australian raw materials.
smh.com.auStephen BartholomeuszMar 18, 2020Not 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.
