See the latest Australian dollar analysis here:
Westpac A$ ‘fair value’ midpoint hits a fresh 19yr low last week below 0.61 as falling swap rates/ rising risk aversion more than offsets higher iron ore prices. The A$ thus remains expensive above 0.63 for yet another week. #ausbiz pic.twitter.com/170Uj6zk3Q
— Robert Rennie (@Robert__Rennie) May 17, 2020
Iron ore will put a dent in that ahead.