What happened to AUD/USD?

The AUD/USD pair kept falling in the last few days, reaching a fresh multi-week low of 0.7263 on Friday, to close the trading week a handful of pips above it. EUR/USD rebounded during the American session and climbed to 1.0715 as the US Dollar retreated, accompanied by lower Treasury yields.

What's going on with AUDUSD in 2023?

Don't miss our 2023 AUDUSD forecast! The Australian Dollar is facing headwinds yet again against the US Dollar, as the central bank divergence theme is back in play in early 2023.

What does AUD/USD mean?

The result is a price corridor, usually enveloping the weekly close price from above and below, and serves as a measure of volatility. The AUD/USD pair tells the trader how many US dollars (the quote currency) are needed to purchase one Australian dollar (the base currency). This currency pair is also known as the "Aussie".

Is the AUD/USD exchange rate in agreement with the Big Four?

Other banks in the Big Four were in agreement, with Westpac forecasting the AUD/USD exchange to reach 0.70 by June 2023. That view was optimistic, with the exchange rate coming in at 0.66 as of July 7. In July, the Australian dollar steadied around $0.667 despite the RBA voting to hold the cash rate steady at its July Board meeting.