Aussie dollar becomes unlikely G10 powerhouse during the war

The Australian dollar has emerged as an unlikely powerhouse during the month-long conflict in the Middle East, defying expectations of a collapse as strategists tip the currency to finish the year well north of US70¢.

Since the outbreak of the US-Israeli war against Iran in late February, the local currency has fallen less than 3 per cent against the US dollar, to about US69¢, and just 2 per cent against a basket of currencies of major trading partners.

Source: https://www.afr.com/markets/debt-markets/aussie-dollar-becomes-unlikely-g10-powerhouse-during-the-war-20260407-p5zlqw