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The AUD in March 2020
After posting new 11-year lows at 0.6435 at the end of Feb, AUD/USD collapsed in March to its lowest levels since 2003, making a low of 0.5510 on March 19 before staging a recovery and ending the month at 0.6131. The fall in AUD/USD was readily explained by one of the fastest and deepest global stock market sell-offs in history and associated spike in risk aversion across various asset markets – always an enemy of the AUD. This was as investors were forced to price the reality of a deep – and immediate – global recession as COVID-19 related social distancing strictures brought large swathes of the Australian ... (full story)