$A shot down in May, after riding high in April

A red-hot US economy and a simmering war in Iran stand in the way of the Australian dollar hitting the highs that many strategists tipped at the start of the year, as the currency slipped below US72¢.

The Australian dollar sat at US71.06¢ on Wednesday, having retreated further from last week’s risk-off rally in which it fell three-quarters of a cent. It was the currency’s largest single-day drop since mid-March.

Source: https://www.afr.com/markets/currencies/after-riding-high-in-april-the-aussie-dollar-is-shot-down-in-may-20260519-p5zykz