We have seen so much change this year, much of it being unprecedented and even unsavoury in some ways. As 2020 has ushered in a new decade, we have seen the most tumultuous beginning to a new decade in recent human history. Practically every aspect of life as we know it has been heavily impacted by the waking realisation of this fact.
Take the foreign exchange market, for example. It is no secret that the foreign exchange market - and, by default, all currencies within that market - has been through quite a tumultuous period this year. As the pandemic has continued to wreak havoc around the globe, the foreign exchange market and all currencies within the market have been brought to unprecedented highs and lows as a direct response. Take the Australian dollar, for instance. This year, the Australian dollar has been through many ups and downs. And while this happens every year, this year holds an air of difference about it that has made the ups and downs more heavily impactful than usual.
The position of the Australian dollar this week is a fantastic example of how currency can seem to be doing fantastic one week and not so great in the next. For the Australian dollar has been trading a typically high value in comparison to other primary currencies in recent months, this week saw the Australian dollar beat it into a risk zone in which it is not entirely possible to tell even remotely how the value of the Australian dollar is going to come out of this week's, let alone the end of this month. The position of the Australian dollar this week is one that is decidedly stable yet at risk. What the Australian dollar is still tipping above some ugly tincurrin see such as the US dollar, there is no telling how long this will ask.
In fact, it has actually been found that the Australian dollar is expected to dip quite low this week as the RBA continues to make active and consistent adjustments to its plan to move forward with assisting the Australian dollar and the Australian economy to recover with relative ease and transparency in the coming months. We have seen a lot of ups and downs come forward as a result of the pandemic. The Australian dollar, these ups and downs have been a direct reflection of the impact on the Australian economy and all that has been brought to the forefront as a result.
Heading forward into the next month, we are hoping for the best however it is not at all certain have you Australian dollar is going to make it weigh into the next quarter. Only time will tell. Until then, investors are encouraged to keep their on the market and be ready to jump out or in whenever possible to ensure maximum vestment with minimal associated risk.
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