AUD Takes a Beating as Strong US Economy Boosts DXY

Australia's currency, the AUD, took a significant hit in recent days due to the strong performance of the US dollar. The DXY index surged after the release of impressive US PMIs (Purchasing Managers' Index), which indicated a robust economic growth. As a result, the AUD was 'pulverised', with its value declining sharply.

The impact was not limited to the Australian dollar, as North Asian forex also suffered losses. This suggests that the strong US economy is having a ripple effect on other regions, putting downward pressure on their currencies.