Relative weekly exchange rates against the US dollar, selected economies
THE Australian dollar is expected to average US68 cents in 2023–24, relatively steady compared to the US67 cents in 2022–23, but 7 percent below the previous 5-year average, according to ABARES’ September quarter commodity outlook released today.
Weaker than expected momentum in the Chinese economy, particularly in natural resource reliant sectors such as construction and manufacturing, weighed on the Australian dollar in August.
Over the remainder of 2023–24, counteracting economic forces are keeping…
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