# RBA suffers bruising blow in trade war as Australian dollar soars 3pc - ABC listen

> The US Federal Reserve cut its policy rate overnight, sending the Australian dollar to a three-month high. The move adds to global currency easing amid the US-China trade war. The Reserve Bank of Australia is wary because a stronger currency could damage an already fragile economy.

- Date: 2019-10-31 · published 2019-10-31T12:00:00.000Z
- Category: macro · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/56823-rba-suffers-bruising-blow-in-trade-war-as-australian-dollar-soars-3pc-abc-listen
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A firmer Australian dollar makes Australian grain, barley and other exports less competitive, which can weigh on Australian feed-grain prices in global markets. Currency-driven export pricing shifts can also influence import buying decisions.

## Sources

- abc.net.au: https://www.abc.net.au/listen/programs/pm/rba-suffers-blow-in-trade-war-as-australian-dollar-soars-3pc/11660204

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