# Australian dollar decline holds best hope for economy to escape trade war fallout

> The Australian dollar was trading close to ten-year lows, well below 70 US cents, as the US-China trade war escalated. Iron ore prices fell about 20 per cent, and Australian 10-year bond yields hit record lows as investors sought safe havens.

- Date: 2019-09-01 · published 2019-09-01T12:00:00.000Z
- Category: trade · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/57840-australian-dollar-decline-holds-best-hope-for-economy-to-escape-trade-war
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A lower Aussie dollar eases the cost of Australian exports, but a sharp iron ore decline and escalating trade war signal weaker global demand and risk.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- abc.net.au: https://www.abc.net.au/news/2019-08-07/australian-dollar-decline-holds-best-hope-for-economy/11389028

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