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AUD/USD Current Price: 0.7784 The Bank of Australia will publish the Minutes of its February meeting. AUD/USD is nearing the multi-year high set last January at 0.7819. The AUD/USD pair maintained ...
In June 2024, the Bank of Canada initiated monetary easing with a 25 basis point rate cut, with projections indicating further cuts would reduce the overnight rate to 4% by year-end. This policy shift aimed to alleviate household financial pressures, particularly for those with adjustable-rate mortgages or credit market debt .
The Australian dollar (sign: $; code: AUD; also abbreviated A$ or sometimes AU$ to distinguish it from other dollar-denominated currencies; [2] [3] and also referred to as the dollar or Aussie dollar) is the official currency and legal tender of Australia, including all of its external territories, and three independent sovereign Pacific Island states: Kiribati, Nauru, and Tuvalu.
A mutiny is taking place in the global currency market, with a growing number of countries ditching the U.S. dollar in favor of China’s yuan — at least, that’s the rumor going around.
Image source: The Motley Fool. After several years of high inflation, the Federal Reserve finally slashed the federal funds rate by 0.50% on Sept. 17, 2024.
The 'second generation' of models of currency crises starts with the paper of Obstfeld (1986). [10] In these models, doubts about whether the government is willing to maintain its exchange rate peg lead to multiple equilibria, suggesting that self-fulfilling prophecies may be possible.
When Australia was part of the fixed-exchange sterling area, the exchange rate of the Australian dollar was fixed to the pound sterling at a rate of A$1 = 8 U.K. shillings (A$2.50 = UK£1). In 1967, Australia effectively left the sterling area, when the pound sterling was devalued against the US dollar and the Australian dollar did not follow.
The falling dollar has launched gold to record highs and returned the yen to 146.15 per greenback, a gain of about 1.6% for the week so far and some 11% higher than last month's 38-year trough.