# Australian dollar hits 10-year low after dipping below 70c benchmark

> The Australian dollar fell to its lowest level in 10 years against the US dollar, dropping to 67.49 US cents before recovering above 69 cents. The decline followed weak manufacturing data from China and the European Union.

- Date: 2019-01-02 · published 2019-01-02T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/61374-australian-dollar-hits-10-year-low-after-dipping-below-70c-benchmark
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Concerns about slowing global growth reduce demand expectations for commodities, while a weaker Aussie dollar supports Australian farm export competitiveness.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- theguardian.com: https://www.theguardian.com/business/2019/jan/03/australian-dollar-hits-10-year-low-after-dipping-below-70c-benchmark

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