AUD soars high. Overview for 20.12.2023

The Australian dollar is noticeably appreciating against the US dollar. The current AUDUSD exchange rate stands at 0.6772.

Aussie has been on the rise for six consecutive days.

In November, Australia's leading economic indicator index from MI increased by 0.1% m/m, following a zero value in October. The National Bank of China decided to keep the base lending rate at 3.45%, positively impacting the AUD.

On the one hand, the AUD is strengthening due to the weakness of the US dollar, which is arguably the critical trigger. On the other hand, the Australian economy's situation also appears neutral, which does not hinder the Aussie from growing.

Currently, the AUD exchange rate stands at the peak of July 2023 and might continue rising.