Westpac IQ
The Australian Dollar rally shifts into a higher gear
August 24 2026 • 4 mins
The Australian dollar's steady climb became a sprint late last week, jumping 0.85% on Friday to fresh current leg highs near 0.7180. What had been a measured grind higher accelerated more emphatically, with the Australian dollar moving into the high 0.71s in just a few sessions. Unlike Jan/Feb's rallies, this move is not being driven by a hawkish RBA story or stretched positioning. Instead, support is coming from a weaker USD backdrop, rising gold prices, strength across Asian currencies and Australia's mining dividend season. A busy week lies ahead, with Australia's July CPI, RBA August meeting minutes and key GDP partials due, although they are likely to play second fiddle to Fed Chair Warsh's keynote speech at the annual Jackson Hole Symposium.
By
Kaitlyn Buhariwalla
FM Strategy Associate
Sustainability Impact: June/July 2026 – What you need to know
August 05 2026
•
8 mins
- Luci Ellis Luci Ellis
- Martin Whetton Martin Whetton
- Robert Rennie Robert Rennie
- Elliot Clarke Elliot Clarke
- Matthew Hassan Matthew Hassan
- Justin Smirk Justin Smirk
- Mantas Vanagas Mantas Vanagas
- Kelly Eckhold Kelly Eckhold
- Damien McColough Damien McColough
- Sian Fenner Sian Fenner
- See all authors See all authors
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