# Australian Dollar retreats from 3-month highs - OFX

> The Australian dollar rallied to 3-month highs of 0.6929 after the Fed cut rates by 25 basis points. Australian building approvals rose 7.6% in September, beating expectations. The pair then slipped back under 69 cents on renewed US-China trade worries.

- Date: 2019-10-31 · published 2019-10-31T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/56826-australian-dollar-retreats-from-3-month-highs-ofx
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Currency moves like this change the price of Australian grain and barley in US dollar terms, affecting export competitiveness. The impact on feed prices is modest and mostly reflects macro factors.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- ofx.com: https://www.ofx.com/en-au/forex-news/daily-and-weekly-market-news/2019/11/01/australian-dollar-retreats-from-3-month-highs/

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