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The Australian dollar has reached its highest point against the US dollar in nine months, positioning it to potentially challenge a peak from September 2024. As of today, the Aussie dollar is valued at 65.82 US cents, a rise facilitated by a growing risk appetite as US equity markets approach record highs.
This year, the Australian currency has appreciated by 4 US cents against the greenback. Should the exchange rate surpass the highs recorded in July, we could see levels not seen since November. Analysts suggest the dollar might aim for a significant challenge against the September 2024 high of 69.42 US cents.
This development comes as a surprise to many economists and could be a concern for those grappling with mortgage difficulties.