Australian Dollar Monthly

The Australian dollar was one of the weaker members of the G10 currency basket in August 2023, surpassed only by the Scandi currencies and the Kiwi dollar. The Aussie dollar dropped to its lowest levels against the USD since November 2022, but found support at US$0.64. The decline of the AUD/USD pair was both due to weakness in the AUD and the USD’s strength.

The Australian dollar was one of the weaker members of the G10 currency basket in July, climbing only against the greenback and Canadian dollar and being unchanged against the euro. The rise against the big dollar was in part driven by USD weakness.

The Aussie gained 2.5% against the greenback in June. This was the Aussie’s first positive month against the greenback since January.

The Australian dollar was one of the strongest members of the G10 currency basket in May but was mixed against the big four currencies, appreciating against the euro and Japanese yen but slipping against the US dollar and British pound.

The Australian dollar declined against most of the G10 currency basket in April, closing the month ahead of only the New Zealand dollar, Norwegian krone, and the weak Japanese yen.

The Australian dollar traded in a narrow range against the USD in March and was one of only two members of the G10 currency basket, along with the Norwegian krone, to lose value against the US dollar over the course of the month.

The Australian dollar opened February in a strong position but by the end of the month was the weakest of the G10 currencies.

The Australian dollar climbed through most of January after a choppy start and was the strongest member of the G10 currency basket over the course of the month.

The Aussie dollar posted a small increase against the greenback in December.

The Australian dollar posted its first monthly rise against the greenback in four months in November. Gaining 6.1% as the US dollar index fell for the second month in a row after hitting a 20-year high in late September. This was the biggest monthly increase in the exchange rate since April 2020 when the Aussie rebounded after slumping to as low as USD0.5743 in the early days of the pandemic.