AUD Monthly January 2021

AUD Monthly January 2021

February 1, 2021

The Australian dollar opened 2021 in much the same way it closed 2020, as positive financial market sentiment, high commodity prices and USD weakness saw the AUD close at a near three-year high of USD0.78 on 6 January. An increase in financial market volatility was the major driver behind the decline in the AUD toward the end of the month, which saw the AUD close slightly lower than its end of December level. More broadly, the AUD was also weaker on a trade-weighted basis, with the Trade-Weighted Index losing 0.6% over the month.

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