The AUD/USD pair has surged to its highest point in five months.
The Australian dollar is making significant gains against the US dollar, with the current AUD/USD exchange rate reaching 0.6772.
The Aussie has experienced a continuous upward trend for six consecutive days.
In November, Australia’s leading economic indicator index from MI rose by 0.1% m/m, following a stagnant period in October. The decision of the National Bank of China to maintain the base lending rate at 3.45% has also contributed positively to the AUD.
The strengthening of the AUD can be attributed to the weakness of the US dollar, a key driving factor. Additionally, the Australian economy’s neutral stance doesn’t seem to impede the Aussie’s upward trajectory.
Presently, the AUD exchange rate is at the highest level since July 2023, and there are indications that the upward trend may persist.
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