What next for the Australian dollar in 2021?
The AUD/USD had a strong performance in 2020. The pair, which is often seen a proxy for China and global commodities, soared by more than 9.65%, becoming one of the best-performing pairs in the world. It also rose by more than 40% from its 2020 low of 0.5510. chart The Australian dollar rose because of three primary reasons. First, it rose because of the strength of the commodities market. Most commodities, including copper, iron ore, and silver, rallied in 2020, driven by strong demand from China. Indeed, the Bloomberg Commodities Index (BCOM) rose by more than 10% during the year. The Aussie is often viewed as a ... (full story)