Australian Dollar Hits Near 4-year High

AUDUSD increased to 0.72, the highest since June 2022. Over the past 4 weeks, Australian Dollar US Dollar gained 1.23%, and in the last 12 months, it increased 12.56%.

The Australian dollar rose past $0.70, approaching levels not seen since June 2022, as the latest jobs data reinforced the Reserve Bank’s view that the labor market remains relatively tight. The jobless rate held steady at 4.3% in March, while employment increased by 17.9 thousand, driven entirely by full-time positions, indicating that labor demand remained resilient despite shockwaves from the Middle East conflict. This followed remarks from Deputy Governor Andrew Hauser, who said inflation is still running above target and that there is limited confidence that current interest rates are sufficiently restrictive. He added that rates may need to rise further, particularly as higher oil prices continue to fuel inflation. Market participants and economists now expect the RBA to deliver a third consecutive rate hike in May, which would bring the policy rate to 4.35% and effectively unwind last year’s easing.

AUDUSD increased to 0.71, the highest since March 2026. Over the past 4 weeks, Australian Dollar US Dollar gained 0.72%, and in the last 12 months, it increased 12.25%.