The Australian dollar falls to its lowest level in over two months, just over 70 cents to the US dollar, amid a renewed surge in the greenback as global interest rates, including US interest rates, rise.

The Australian currency has been sold off after Iranian missile strikes on Israel shattered investor confidence, while a strong US jobs report has not helped.

US dollar reaches a two-month high amid Fed rate hike speculation. Rate decrease by June 2026 at 0.5% YES.