Fundamental analysis
29 April, 2022
During Asian trade, the Australian dollar strengthened against the US dollar. The US currency is still in a strong rush due to the commitment of Fed officials to accelerate the tightening of monetary policy. Hawkish comments of the creators of the monetary policy in the USA, including the chairman Jerome Powell, give strength to the American dollar, and before the regular meeting of the Fed on May 4. However, Australia is quite far from the European war, so in the context of the general weakening of the euro and the pound, but also the yen, a solid alternative remains Aussie, which is supported by rising metal prices (since Australia is a major producer of copper, lithium and other rare metals). Early this morning, the Australian dollar was exchanged for 0.7174 US dollars, which represents a strengthening of the Aussie by 0.91% since the beginning of trading last night.
