The world as we know it right now has been impacted monumentally by the ongoing coronavirus pandemic that has been wreaking havoc around the globe for the last nine months. Practically every aspect of life as we know it and every corresponding industry has been impacted by this virus. Whether it is the way that the entertainment industry requests for voice over demos over the internet, or the way that the business landscape is being forced to expand or even entirely shift online, unprecedented change has been spurred into motion thanks to this devastating pandemic, and it’s all going online.

Amongst the affected industries, the foreign exchange market has also been hugely impacted. The foreign exchange market is always evolving. The only constants in the foreign exchange market is that there are no constants. And as such, every currency that operates and thrives within the foreign exchange market has also felt the impact and the ripple effects of the pandemic. Take the Australian dollar and its current position, for instance. When the coronavirus pandemic first hit, there was a lot to be said about the fact that practically every currency was going to be filling the weight of the pandemic in one way or another. For the Australian dollar specifically, the impact has been decidedly devastating for the most part.

That is, up until now. In recent weeks, the Australian dollar has shown signs of beginning to improve its financial position on the foreign exchange market. This is at least partially due to the fact that this is very much a currency that has been shifting around time and again during a pandemic but nonetheless has continued to manage to find its footing amid these uncertain second stances. Of course, this goes hand in hand with the position of the Australian economy during the pandemic. While the Australian economy has of course struggled during these unprecedented times, it has also found itself in a position of strength for the most part.

This is at least partially due to the fact that this island nation has managed to gain control of the coronavirus pandemic quite well in comparison to other nations and so it has begun to recover quicker than other aspects and other nations around the globe. The Australian dollar has been showing promise to recover recently, and especially in the last week. And for the first time in many months, the Australian dollar has found itself and position of strength not only temporarily but for a prolonged period of time. The last few weeks have seen the Australian dollar find its strength again, allowing it to rise up and gain value in itself once more. And this is thought to be just the start.

In Australia, the national currency has always been at a disadvantage in comparison to other countries around the globe (like the United States). However, now the Australian dollar is finding that in reflection of the recovery of the economy and small stages, the dollar has now also found itself in a position of beginning a hopeful recovery as well. And of course, the Australian dollar continues to be prepared to the eggs and flows of the foreign exchange market just like any other currency, however the differing aspect of the Australian dollar versus other currencies currently is that the Australian dollar has been pinned to be in a position of strength not just now but headed into the coming weeks - and even perhaps the coming months.