This Is Why The Aussie Dollar Continues To Be Under Pressure! - Kakiforex.com - Financial Market Media No. 1 in the World This Is Why The Aussie Dollar Continues To Be Under Pressure! This Is Why The Aussie Dollar Continues To Be Under Pressure!
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August 11, 2021

This Is Why The Aussie Dollar Continues To Be Under Pressure!

 The Aussie dollar continued to trade lower on Wednesday amid stronger US dollar trading and continued pressure from the Covid-19 situation in Australia.


New South Wales the state with the highest population in Australia has had to further expand Covid-19 blockade measures in rural areas and provinces in Byron Bay.


There were four deaths and 356 locally transmitted Covid-19 infections confirmed in New South Wales on Monday, where almost all of them were detected in Sydney.


In addition, Melbourne, which was supposed to end their blockade on Thursday, had to extend the blockade measure for another 7 days, after more cases of infection were reported in the city.



Australia is so far far better than most other developed countries, with a total of less than 37,000 cases of infection so far. The death toll rose to 944 on Wednesday.


However, with less than 25% of the country’s population receiving the full vaccine, Australia faces a warning from the International Monetary Fund (IMF) that the country is at risk of falling into a second recession in a few years.


The federal and state governments have committed to ending sanctions when 70% of the country’s nearly 26 million people are vaccinated.


At the start of the European session, the Aussie dollar traded around a nearly three -week low against the strong US dollar.