# 'Very vulnerable' Aussie dollar slumps to 11-year low

> The Australian dollar dropped to an 11-year low of about 65.9 US cents after the unemployment rate rose unexpectedly from 5.1 to 5.3 per cent. Analysts said the currency looked vulnerable to further RBA rate cuts amid a slowing economy.

- Date: 2020-03-01 · published 2020-03-01T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/54851-very-vulnerable-aussie-dollar-slumps-to-11-year-low
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A weaker Aussie lowers the dollar cost of Australian grain and meal exports, which can add supply competition for buyers in Asia.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- abc.net.au: https://www.abc.net.au/news/2020-02-21/australian-dollar-slumps-to-11-year-low-on-jobs-data/11987094

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