Right after the Australian money steadied yesterday, the air gets hotter for the currency along with Australia’s weather conditions. The odds aren’t working in favor of the AUD and the country’s economy this first month of the year.
The AUD USD exchange rate steadied by 0.03% or 0.0002 points in yesterday’s trading sessions. The events around Washington and Tehran are also weakening the greenback, allowing the Aussie to stand steady.
Meanwhile, the eurozone’s single currency tumbled against the Australian money. The EUR AUD trading pair slipped by 0.19% or 0.0030 points in yesterday’s trading sessions.
The GBP AUD pair, on the other hand, also nearly flatlined, inching down only by 0.05% or 0.0009 points yesterday. The pair was still able to fluctuate around ranges between AU$1.9062 and AU$1.9155.
The Australian money also green territories against the Canadian loonie yesterday. The AUD CAD exchange rate edged up by 0.08% or 0.0007 points during the trading sessions.
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The air isn’t clearing anytime soon. Today, predictions show three cities in Australia will feel worse conditions despite signs of improvement earlier this week.
The country’s economy has taken major hits from the ranging fire. It burned down thousands and thousands of homes. It also turns businesses and livelihoods into ashes.
The country’s tourism and its wildlife are immensely affected, of course. The rampant fire killed millions of innocent animals.
Local authorities arrested 180 people for purposely starting the bushfires.
A liberal MP has also claimed arson to the people behind the bushfires raging through the country.
Liberal MP Craig Kelly claimed that it wasn’t climate change behind the devastating crisis. Humans are the ones responsible for the unforgivable catastrophe the country is going through.
Kelly said that an unprecedented number of people have been arrested by the local police and are charged with crimes. Still, whatever or whoever caused the tragic wildfires, the Australian economy and the Australian money have taken major hits.