On 19 December 2024 the Australian dollar fell to about 62.2 US cents. It was its lowest level since October 2022.
Key Facts
- Date: 19 December 2024
- Dollar: about 62.2 US cents
- ASX200 fell 1.7% (141.2 points) to 8,168.2
- Almost $50 billion was wiped off shares
- The US Federal Reserve cut by 0.25 points
Why It Fell
The US Fed cut rates but said it now expects only two cuts in 2025. The Aussie dollar fell after the news.
Other Rates
The dollar bought about 49.42 British pence.
Frequently Asked Questions
How low did the dollar go?
About 62.2 US cents.
What happened to shares?
The ASX200 fell 1.7%.
What did the Fed do?
It cut rates by 0.25 points.
Conclusion
A stronger US dollar pushed the Aussie dollar down.
Related reads: ASX 200 Rebounds: Woolworths Soars, Westpac Fined, Big Banks Slip as Market Ends Losing Streak; ASX Rallies 1% as Big Banks, Gold Miners Lift Market Higher; ASIC Launches Major Investigation Into ASX Over Governance and System Failures.
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