Business
Australian dollar tipped to hit 80 US cents on back of coronavirus recovery and China’s demand for steel – ABC News
The Australian dollar is expected to keep surging as long as China’s hunger for steel remains insatiable and the US struggles to control its COVID-19 outbreak,…
The Australian dollar is expected to keep rising as long as China’s hunger for steel remains insatiable and the US struggles to control its COVID-19 outbreak.
Key points:
- In March, the currency briefly plunged to an 18-year low (55.08 US cents)
- A weaker US dollar and surging iron ore prices have driven the Australian dollar higher
- The RBA is expected to ramp up its stimulus measures in 2021
That is essentially why the local currency has risen to a 2.5-year high (about 76 US cents) despite a “once-in-a-century”…
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