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Currencies

This Month

Traders watch Fed chairman Jerome Powell’s press conference in Washington.

Shares, dollar slammed after Fed walks back rate cut plans

The Australian dollar tumbled to a two-year low and investors sold off stocks after US policymakers predicted just two rate cuts in 2025 – fewer than the market hoped for.

  • Cecile Lefort
Bitcoin was hovering near $US106,000 on Tuesday.

Bitcoin tipped to hit $US180,000 within months

Bulls are defying calls for a pullback after Donald Trump reaffirmed his plan to create a strategic reserve, which analysts believe could trigger another rally.

  • Alex Gluyas
Elon Musk

How to keep up with mainstream meme coin mania

The explosive rise of social media has already shifted the workings of politics and democracy. We are now seeing how it can move asset prices in digital assets.

  • Gillian Tett
Australian investors have been piling into crypto since Trump’s decisive election victory.

Bitcoin smashes through $US100,000 as traders eye ‘huge re-rating’

Investors believe the change in attitude towards cryptocurrencies still hasn’t been priced in, making Thursday’s milestone just the beginning.

  • Alex Gluyas
A BitBase cryptocurrency exchange in Barcelona.

Squirrels, pigmy hippos: Crypto’s boom has gone too far

Memecoin tokens based on online viral moments outpaced bitcoin over the past month, but critics say they reflect market froth.

  • Nikou Asgari
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CBA slashed its forecasts for the Aussie dollar on Tuesday.

CBA warns $A to drop ‘materially’ in 2025

The threat of a renewed trade war under Donald Trump will keep the US dollar soaring into next year, wreaking havoc on the $A.

  • Alex Gluyas

November

Concerns about a US-China trade war have accelerated the Aussie dollar’s fall.

Trump trade war could smash Aussie dollar below US60¢

The Aussie hasn’t fallen below US60¢ – outside the pandemic – since 2003. But NAB has warned it “would not be surprised” to see that happen next year.

  • Alex Gluyas
Bitcoin is climbing back toward the elusive $US100,000 price level.

Bitcoin’s wild ride towards $US100,000 – and why it matters

The flagship cryptocurrency has resumed its advance this week as investors took advantage of a sharp sell-off. Analysts say volatility is to be expected.

  • Alex Gluyas
Donald Trump with his sons: the US dollar is among the biggest beneficiaries of the president-elect’s sweeping victory.

Crypto markets prepare for bitcoin’s $US100,000 milestone

The world’s No.1 cryptocurrency is within striking distance of history as America prepares for a digital asset-friendly Trump administration.

  • Alex Gluyas
Donald Trump with his sons: The US dollar is among the biggest beneficiaries of the president-elect’s sweeping victory.

US dollar surge to wreak havoc on $A, commodities

The powerful rally in the greenback since the US election has prompted strategists to rapidly adjust currency forecasts as investors flee metals and the Aussie dollar.

  • Alex Gluyas
Bitcoin’s rally is showing no signs of slowing down.

‘The chase is on’: Bitcoin tipped to hit $US100,000 within weeks

A record rally in the flagship cryptocurrency has ETF providers reporting huge inflows and exchanges enjoying frenetic activity.

  • Alex Gluyas
Donald Trump said during his campaign he wanted to make the United States “the crypto capital of the planet”.

The crypto industry spent $197m on the US election

The cryptocurrency industry spent more than $A197 million to back political candidates in the US election who supported softer regulations on crypto. It paid off.

  • Santul Nerkar
A Trump presidency is good news for crypto.

Bitcoin tipped to hit $US100,000 as euphoria floods crypto

Traders are betting its rally through $US76,000 is just the beginning of a powerful bull market, sparked by looser regulation under the return of Donald Trump.

  • Alex Gluyas
The Australian dollar took a beating on Tuesday.

Aussie dollar slumps on Trump’s return to the White House

The Aussie was among the biggest losers on Wednesday while bond yields surged as traders bet on just one rate cut in 2025 when Trump returns to the White House.

  • Cecile Lefort
Billionaire Elon Musk support of Trump and backing of Dogecoin has sent the memecoin soaring.

Money piles into bitcoin as Trump wins election

Bitcoin rallied to a record on the prospect of Donald Trump returning the White House. Elon Musk-backed dogecoin, meanwhile, soared more than 20 per cent.

  • Sarah Jones
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Vice President Kamala Harris has renewed momentum coming into the last day of campaigning, polling showed.

Investors taper Trump trades amid late momentum for Harris

The US dollar hit a two-week low overnight as traders unwind some of their aggressive positioning in expectation the former president will return to the White House.

  • Sarah Jones

October

Bitcoin has surged more than 70 per cent this year.

Investors flood into bitcoin, gold as Trump bets surge

Brokers are experiencing a wave of cash into cryptocurrencies and gold as investors ramp up bets that the former president will return to the White House.

  • Alex Gluyas
Several economic forces that once weighed on the AUD now seem to be shifting in its favour, potentially driving further strength.

Why the Aussie dollar can rebound above US70¢

Investors may want to consider increasing exposure to Australian dollar-denominated assets or reviewing hedging strategies that benefit from a stronger currency.

  • Todd Hoare
NAB’s Rodrigo Catrill says uncertainty with the outcome of next week’s US election has weighed on the local currency.

$A will ‘struggle to punch higher’ as US election weighs on sentiment

The local currency has declined for four consecutive weeks as nervous investors pile into the greenback one week out from the US election that one national poll has Donald Trump ahead.

  • Joanne Tran
Convenient convert: Donald Trump speaks at a bitcoin conference in Nashville, Tennessee.

Bitcoin traders position for ‘seismic’ shift under Trump

The largest cryptocurrency came within striking distance of a record this week as pundits eye $US80,000 if Donald Trump does return to the White House.

  • Alex Gluyas
Investors expect drastic interest rate cuts by the Reserve Bank of New Zealand as the economy deteriorates.

Markets bet on drastic cuts after NZ slashes rates

The kiwi hit a seven-week low after New Zealand’s jumbo rate cut, but Citi is tipping the RBNZ could go another 75 basis points next month to arrest slowing growth.

  • Cecile Lefort

September

More certainty in the regulatory environment will help Investment  in cryptocurrencies.

Blockchain revolution won’t wait for Labor to catch up

Blockchain needs to be regulated properly before more investors take the plunge. Yet, the Albanese government is still missing despite its earlier pledges.

  • Simon Kennedy
Common attributes of crypto owners include being male, having a victimhood mindset and relying on fringe social-media sources for news.

Crypto owners are more likely to have psychopathic traits, study says

Digital asset holders exhibit higher levels of “dark” personality attributes, such as narcissism, Machiavellianism and sadism, according to an academic paper.

  • Teresa Xie

August

Traders are betting on a rise in commodity prices as the US dollar drops.

Traders pile into $A, commodities ahead of Fed cuts

Investors have started targeting the US dollar, adding further momentum to its decline and sparking a rally across foreign-exchange and commodity markets.

  • Alex Gluyas
Economists expect the Australian dollar to climb throughout the year.

Aussie dollar’s rebound brushes off China woes

The $A has staged a powerful recovery from the market rout to climb above US67¢ despite the collapse in iron ore prices. Strategists expect the rally to keep going.

  • Alex Gluyas

Original URL: https://www.afr.com/markets/currencies