![](https://moneylowdown.com/wp-content/uploads/2023/06/20220625001673164714-original-750x450.jpg)
Key Points
- The Australian dollar rallied to a four-month high last week.
- It’s performing well against several Asian currencies.
- But it’s down against the euro and the pound.
But the Australian dollar has been fluctuating and is not particularly strong against the United States dollar, which market analysts always compare it to.
Here’s how the AUD is performing compared to local currencies around the world:
The good
Japan
The Australian dollar is up 7.1 per cent against the Japanese yen since October 2022. One Australian dollar will buy you 97 yen.
![Tourists take pictures with women in traditional dresses outside a Japanese temple.](https://moneylowdown.com/wp-content/uploads/2023/06/20230504001794217083-original.jpg)
The Australian dollar has been strong against the Japanese yen. Source: AAP / Kimimasa Mayama/EPA
If you look longer term, it’s at nearly its strongest levels since 2014, Mr Sycamore said.
Japan officially opened to tourists in October last year following strict shutdowns during the coronavirus pandemic and is a popular travel and skiing destination for Australians.
China
He added that China’s central bank cut its lending rate last week as the start of expected stimulus measures, which will likely lead to stronger support for the Aussie dollar.
Indonesia
![People sitting on a beach.](https://moneylowdown.com/wp-content/uploads/2023/06/20181006001364814753-original.jpg)
(2/5/2018) A crowd of tourists and backpackers enjoy the sunset in a beach bar in Canggu beach, just north of Kuta and Seminyak in Bali, Indonesia (Photo by Sergi Reboredo/Sipa USA). Source: AAP, Press Association / Sergi Reboredo/Alamy
India
It’s down slightly from highs in February this year, but it is at one of its strongest levels in the last three years.
Norway and Sweden
Your dollar will buy you 7.2 Norwegian krone and 7.3 Swedish krona at the time of writing.
![A landscape view of a harbour and buildings.](https://moneylowdown.com/wp-content/uploads/2023/06/20150305001108538480-original.jpg)
Stockholm, Sweden. The Australian dollar is buying about 7.3 Swedish krona. Source: AAP / James Lane
Where it’s complicated
United States
And looking forward, Commonwealth Bank institutional forecasts expect the dollar to fall to 62 US cents in the September quarter and remain in the mid-60s until March 2024.
![A chart depicting the Australian dollar's performance against the US dollar.](https://moneylowdown.com/wp-content/uploads/2023/06/audusd.png)
The Australian dollar has been bouncing between 62 and 71 cents to the US dollar. Source: SBS News
Turkey, Lebanon and Argentina
This means the price of goods is highly unpredictable and likely very high.
New Zealand
The country has entered a technical recession, which is likely to depress its currency further.
![An aerial view of a city and beaches.](https://moneylowdown.com/wp-content/uploads/2023/06/20200609001473173049-original.jpg)
Tauranga viewed from Mount Maunganui, New Zealand. One dollar is worth about NZD$1.10 at the moment. Source: AAP, SIPA USA / Gado Images
The Bad
Europe
One dollar is worth 62 euros.
![A graph depicting the Australian dollar's performance against the euro.](https://moneylowdown.com/wp-content/uploads/2023/06/audeur.png)
The Australian dollar is down against the euro. Source: SBS News
United Kingdom
One Australian dollar is now sitting at 54 pence, a figure that’s been tracking downwards all year.
Mexico
For Australians seeking sunny summer destinations, Mexico may not be the place to go, as the Australian dollar has sunk 5 per cent against the Mexican peso since October last year. Your dollar will buy you 11.7 pesos at the moment.