Aussie Extends Losing Streak

2026-03-30 03:08 By Joshua Ferrer 1 min. read

The Australian dollar weakened further to around $0.685, down for a seventh straight session to hit its lowest since January 23 as a sharp rise in energy prices amid ongoing Middle East tensions clouded the global economic outlook and pushed investors toward the safety of the US dollar.

The Aussie also fell 2.1% last week, its worst weekly performance since April 2025, and on track for a roughly 3.8% monthly decline, the steepest since December 2024.

Oil prices continued to climb as the conflict in Iran entered its fifth week, with renewed attacks in the region increasing risks to global energy supply.

In response, Australia's Prime Minister Anthony Albanese announced a temporary cut to fuel taxes to help ease cost pressures, underscoring the broader impact of rising energy prices on the economy.

Focus now turns to the release of the RBA’s latest meeting minutes after a narrow vote to lift rates to 4.1%, as policymakers balance persistent inflation against a softening growth outlook.



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