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Andrew Baxter on the Falling Australian Dollar: What You Need to Know Sydney
- Location: Sydney, Sydney, Australia
The decline of the Australian dollar can largely be attributed to the strengthening of the US dollar. The US is currently undergoing its third cycle of interest rate cuts, with expectations of more to come. Normally, such cuts would weaken the US dollar, provided other currencies stay strong. However, in this instance, the US dollar has continued to rise, while the Australian dollar has shown minimal movement.
The economic outlook for Australia also plays a crucial role. A slowing Australian economy is dampening market sentiment, and there is increasing speculation that the Reserve Bank of Australia (RBA) may further reduce interest rates, which would likely weaken the dollar even more. If these cuts materialize, the Australian dollar could continue its downward trend into 2025.
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