Aug 8, 2026 – 5.00amThe Australian dollar has climbed to its highest point in seven weeks amid forecasts that its steady upward march is only the beginning, with massive appetite for copper turning the currency into a proxy for the artificial intelligence boom and reshaping expectations about its trajectory.The dollar rose to US70.64¢, its highest mark since mid-June, before easing back to US70.23¢ on Friday. Up by more than 5 per cent against the US dollar since the start of the year, the Australian dollar has become the second-best performing currency against the greenback, only shaded by the Norwegian krone.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Dollar finds fuel in AI-led copper boom with forecasts of US77¢ high
The Australian currency has become the second-best performer against the greenback since the start of the year, beaten only by the Norwegian krone.
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