Australian Dollar Struggles to Recover, Dips Below 62 US Cents

Experts highlight US dollar strength as a key driver of the currency’s decline.

An image of Australian $50 banknotes. A. Ming/ The Epoch Times

The Australian dollar has hit a concerning low, nearing its lowest point since the early stages of the COVID-19 pandemic.

Over the New Year holiday period, the Australian dollar dipped below 62 U.S. cents for the first time since October 2022, mirroring the struggles of late March and early April 2020.