# "America First" booms as Australian dollar busts - MacroBusiness

> The Australian dollar was sold against developed-market currencies after Westpac lifted mortgage rates. US Q2 GDP growth was revised up to 4.2%, and emerging-market currencies including the Turkish lira and Argentine peso came under pressure.

- Date: 2018-08-29 · published 2018-08-29T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/63808-america-first-booms-as-australian-dollar-busts-macrobusiness
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A stronger US economy and firmer dollar tighten financial conditions for emerging markets, which can curb their import demand for feed and grain. The Australian dollar weakness reflects domestic rate expectations.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- macrobusiness.com.au: https://www.macrobusiness.com.au/2018/08/america-first-booms-australian-dollar-busts/

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