Whats really happening to the AUD?

[rikrikrik]

with another giant IRON mine in australia posting massive losses how will that affect the dollar after its been prop'ed up from iron mining

[1715254601]

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[1715254601]

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[Eastwind]

AUD is a commodity currency. When the price of commodities drops, it will also drop. The tax for iron ore and coal miners is too high, which causes the loss as well.

[H.W.Z]

AUD is a commodity currency. When the price of commodities drops, it will also drop. The tax for iron ore and coal miners is too high, which causes the loss as well.

the exchange rate of AUD is influenced by the world economy at some extent. When the economy slow down, the demand for economy slow down as well. Then the price of the commodity drops as well，in turn reflecting in the price of AUD.

[BootstrapCoinDev]

Based on recent trends, i think there's a fair chance AUD could drop slightly further, so it may drop another 2% in 6 weeks, but thats basic speculation.