# Coronavirus isn't the only contributor to Australia's weakening dollar - ABC News

> The Australian dollar fell to an 11-year low of 65.43 US cents, with coronavirus fears outside China contributing to the decline. Its slide also reflects a year of Reserve Bank rate cuts that narrowed its yield advantage over the US dollar.

- Date: 2020-02-27 · published 2020-02-27T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/54849-coronavirus-isn-t-the-only-contributor-to-australia-s-weakening-dollar-abc-news
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A weaker Aussie makes Australian grain, meal and barley exports cheaper in US dollar terms, which can add competitive pressure on global feed grain prices.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- abc.net.au: https://www.abc.net.au/news/2020-02-28/why-did-australian-dollar-dip-to-11-year-low/12008616

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