AUDUSD Has Significantly Weakened Since the Last 11 Years Due to Corona Virus and Increasing Unemployment in Australia

The AUDUSD currency pair must still take the last few pressures when the Asian session is still taking place on Monday (24/2).

A weaker Australian dollar brought the pair to 0.6610. At the moment the pair is quite close to the low competitor level for the past 11 years. Concerns about the Corona virus outbreak are the main topics causing risk aversion that is detrimental to risk assets.

The tone of risk aversion persists even though the Global Times and WHO stated that there were no reported cases of infection on Sunday.

But the possibility of a positive message is able to provide encouragement for the Australian Dollar to rise from the lowest level in the year.

AUDUSD
AUDUSD

The Australian dollar weakening at this time may be caused by reports of infections from several countries that continue to rise.

From Italy itself at the end of the week the case increased to 132 in a matter of a few days. Japan also reported a surge in cases on Sunday to 838 cases of infection.

Read Also: Danger! China Corona Virus Spreads Quickly to Countries, This List of Countries Affected by

Various steps will be taken by the Chinese government to overcome the effects of the Corona virus outbreak. yesterday the Beijing trade council released 3,325 force majeure certificates for companies that suffered losses due to the plague.

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