Rate hike expectations send Australian dollar soaring

A holiday to Tokyo, New York or Vancouver may be on the cards after the Australian dollar surged to multi-month highs against the US, Japanese and Canadian currencies buoyed by hopes of local interest rate rises.

The Australian dollar was at US69.31¢, its highest level since September 2024, on Monday, having climbed 3.2 per cent last week, the biggest gain in nine months. That puts the dollar within a whisker of its 2024 peak – passing that mark would take the currency to its highest level in three years.

Source: https://www.afr.com/markets/debt-markets/rate-hike-expectations-send-australian-dollar-soaring-20260126-p5nwy1