The Australian dollar, which has been weakening since 2018, has experienced a heavy depreciation in early March and a rebound in the second half of the same month. It has so far risen by more than 24%, which is a new high in the past 15 months and has returned to an appreciation trend. In the context of the impact of the Wuhan pneumonia (new coronavirus disease, COVID-19) epidemic on the global economy, the upward trend of the Australian dollar may still be influenced by central bank policies and even the international environment.
In addition to the global factors of the weak US dollar index, the Reserve Bank of Australia (RBA) has previously ruled out the possibility of implementing negative interest rates, which has widened the gap between the yields of Australian government bonds and U.S. Treasury bonds. RBA Governor Philip Lowe ) Also said that the current trend of the Australian dollar is roughly in line with economic fundamentals.
