Australian dollar approaching a dangerous level, economists warn

Whether you think the coronavirus recession has ended or not, it’s hard to deny an economic recovery is underway.

The closely watched National Australia Business survey points to this:

“Overall both confidence and conditions are now above average, and stronger than the period right before the pandemic,” NAB senior economist Gareth Spence wrote.

And with the economic recovery, the Australian dollar has found a spring in its step.

The converse is also true. It hit a low against the greenback on March 20 (57.4 US cents) when the COVID economic crisis reached a crescendo.