Australian money background showing $100, $50 and $20 notes with a shallow depth of field.
Share this @internewscast.com

Shortly after 1pm AEST, the Aussie was buying 65.60 US cents, its best performance against the dollar since November 24 last year.

It has since slightly decreased to about 65.44 cents as of 4pm, approximately the same as its value at the market’s close yesterday, but still significantly higher than at the beginning of the year.

Australian money background showing $100, $50 and $20 notes with a shallow depth of field.
The Australian dollar hit its highest level of the year against the greenback today.(AP)

“I know within three or four people who I’m going to pick,” he stated, mentioning that Powell’s term is up “pretty soon fortunately, because I think he’s terrible.”

This caused the greenback to reach a more than three-year low on Thursday (US time). The US dollar index, which gauges the dollar’s strength against six major foreign currencies, fell to its weakest level since February 2022.

Francesco Pesole, a strategist at ING, said that concerns about the Fed’s independence have been one of the contributing factors to the dollar’s broad decline this year.

“One of the key foundations of the strong dollar, of the dollar as a dominant currency globally, is to have an independent central bank,” Pesole told CNN.

“So, if (global investors) feel there is greater influence of politics into the Fed’s decisions, then they are pricing in a greater risk for the dollar.”

– With CNN, Associated Press

Share this @internewscast.com
You May Also Like
US Secretary of Defence Pete Hegseth

“US Defense Secretary: Combat Troops Must Meet Top Male Standards”

US Defence Secretary Pete Hegseth called together hundreds of US military leaders…
Fans have turned on Keith Urban after it was revealed he has split from his wife of 19 years, Nicole Kidman. The New Zealand-born singer, 57, was inundated with comments on his Instagram, with a slew of admirers begging him to reunite with his 58-year-old actress wife. Recent posts have been utterly swamped with fans sharing their grief over the breakup.

Fans React to Keith Urban and Nicole Kidman’s Split

Fans have turned against Keith Urban following news of his separation from…
Ringleader behind the world's biggest cryptocurrency fraud convicted

Mastermind of Largest Global Cryptocurrency Scam Found Guilty

UK police have made what is believed to be the world’s biggest…
Australian clinical trials are helping to advance the medical treatment of some of the most common and debilitating health conditions.

The Simple Side Hustle Allowing Australians to Make Thousands Without Needing Experience or a Degree

Australians are making thousands of dollars, even without prior experience or a…
Linh Hoang and fiance

Why a Couple Hurried to Purchase Before the New First-Time Homebuyer Program

Linh Hoang, age 29, was on a challenging quest to purchase a…

Controversy Surrounds Comedy Festival in Saudi Arabia: Here’s Why

A comedy festival in Saudi Arabia has drawn criticism from human rights…
Kash Patel cuts the ribbon at the official opening of the FBI office in Wellington, New Zealand

FBI Chief Provided NZ Officials with 3D-Printed Guns, Contravening Local Laws

While visiting New Zealand, FBI Director Kash Patel gave inoperable pistols to…

Gaza Peace Plan Awaits Hamas Decision Following Support from Trump and Netanyahu

A US-sponsored ceasefire proposal for Gaza is hinging on Hamas’s response to…

Chalmers disappointed as Reserve Bank keeps interest rate unchanged in Australia

The Reserve Bank of Australia (RBA) chose to keep the cash rate…
Jim Chalmers press conference interrupted by 'scared' woman

“Fearful Woman Interrupts Treasurer’s Press Conference with Urgent Plea”

A local resident interrupted Treasurer Jim Chalmers’ press conference in Queensland to…
New CCTV released of missing New Zealand teen

New Security Footage Shows Missing New Zealand Teen

Police have released new photos of a missing New Zealand teenager. Seventeen-year-old…
Trump threatens retribution as US government teeters on brink of shutdown

Trump Warns of Consequences While US Government Faces Possible Shutdown

As a government shutdown looms mere hours away, Democrats and Republicans are…