The value of one Australian dollar dropped to a low of 59.64 US cents, its lowest point since April 2020
- ‘Bloodbath’ market opening sees ASX shed $160bn
- Get our afternoon election email, free app or daily news podcast
- Election 2025 live updates: Australia’s federal election campaign
Consumers and travellers will face higher prices after the Australian dollar fell to Covid-era lows, as markets reel from Donald Trump’s “liberation day” tariff plan.
Fears of a global recession dragged the Australian dollar sharply lower on Monday against the country’s major trade partners and to its lowest point against the Euro, pound and US dollar since 2020.
Sign up for the Afternoon Update: Election 2025 email newsletter