What is the USD to AUD forecast for July 2024?

USD to AUD forecast at the end of the month 1.458, change for June -0.9%. US Dollar to Australian Dollar forecast for July 2024. In the beginning at 1.458 Australian Dollars. Maximum 1.458, minimum 1.401. The averaged exchange rate 1.435.

Why has the Aud risen so much in 2023?

From a record low of 0.10% in April 2022, the Reserve Bank has made regular increases to the official cash rate, which sits at 4.10% as of October 2023. Interest rate hikes tend to increase foreign investment demand for the AUD, which helps drive the value of the Aussie dollar higher. Inflation.

What drives the Aud to a lower level in 2022?

“Other factors that drive the AUD are commodity prices, interest rate differentials, and external trade balance,” Zaman says–but in 2022, the dominant driver of the downwards move was the strong US dollar.

What happened to the Australian dollar in August 2022?

While there was a slight increase in the Australian dollar in August 2022 to 0.71—which foreign exchange analysts at JP Morgan backed as a sign that the AUD/USD exchange rate could remain steady at 0.70 by the end of the year —the US dollar actually rose back to an average 1.49 compared to the Australian dollar throughout September.