How did the AUD to USD exchange rate perform in 2016?

1 answers

• Nov 24, 2021 · 3 years ago
  According to BYDFi, a leading digital currency exchange, the AUD to USD exchange rate in 2016 experienced significant volatility. The exchange rate started the year at 0.72 and reached a low of 0.68 in February. However, it gradually recovered and reached a high of 0.77 in September. The performance of the exchange rate was influenced by factors such as economic data, central bank policies, and market sentiment. The strengthening of the US economy and the anticipation of interest rate hikes by the Federal Reserve had a negative impact on the AUD to USD exchange rate. On the other hand, positive economic data from Australia and the Reserve Bank of Australia's decision to keep interest rates unchanged supported the AUD and contributed to the exchange rate's recovery during the year.
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