The Australian dollar reached a nine-month low against the United States dollar on Monday 14th August 2023 to
exchange at US 64.85 Cents after losing 0.6%. The Australian dollar initially dropped to 64.59 US cents before recovering slightly to 64.85 US cents later in the day. with this development causing global investors to become uneasy.

This decline has extended over four consecutive weeks, attributed to the Reserve Bank of Australia's cautious stance, apprehension about China's situation, and a robust US dollar, according to Sean Callow, senior currency strategist at Westpac.

Callow suggested that the Australian dollar may fall below 64 cents if investor apprehensions intensify about China's property market or if the upcoming July economic activity data disappoints.

READ MORE: https://www.veryserial.com/australian-dollar-hits-historic-9-month-low/