# Why the world is giving up on the Australian dollar

> Hedge funds have reduced their bets on the Australian dollar as iron ore, Australia's largest export, fell to a six-month low. Rising Chinese port iron ore stockpiles and expectations of a Fed rate rise in June have added to pressure on the currency.

- Date: 2017-05-15 · published 2017-05-15T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/71261-why-the-world-is-giving-up-on-the-australian-dollar
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Weak iron ore and a narrowing rate differential point to continued Aussie weakness, while rising Chinese stockpiles signal softer Chinese steel demand.

## Read by commodity

- AUDUSD: bearish ▼

## Sources

- smh.com.au: https://www.smh.com.au/business/markets/why-the-world-is-giving-up-on-the-australian-dollar-20170516-gw5ivb.html

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