Australian Dollar Monthly

The Australian dollar recorded its weakest monthly performance against the US dollar since December 2024 and was among the poorest performers within the G10 currency basket. In contrast, the US dollar was the strongest currency, followed by the British pound, Japanese yen, and euro.

The Australian dollar continued to be driven by news around a potential US-Iran ceasefire extension and changing expectations for RBA cash rate hikes, before closing the month marginally lower.

The Australian dollar outperformed all the G10 currencies in April, except for the Norwegian krone, with the krone remaining supported by high oil prices.

The Australian dollar outperformed most of the G10 currencies in early March but lost ground in the second half of the month. The decline saw the Aussie close the month as one of the weaker members of the basket, ahead of only the Swiss franc, New Zealand dollar and Swedish krona.

The Australian dollar remained an outperformer in February and was the strongest of the G10 currencies during the month, ahead of the Norwegian krone, Swiss franc and US dollar.

The Australian dollar was again one of the strongest members of the G10 currency basket in January, behind only the Norwegian krone and New Zealand dollar, building on its outperformance in December.