Falling Australian dollar spells bad news for travellers and shoppers

The value of the Australian dollar plummeted to 59.64 US cents, the lowest since April 2020, leading to a $160bn drop in the ASX market opening. Consumers and travelers can expect higher prices as the currency’s decline is linked to fears of a global recession following Donald Trump’s tariff plan, impacting trade partners and causing record lows against the Euro, pound, and US dollar.

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