Australian dollar drops below 0.6850 as Fed-RBA outlooks diverge: Nov 13, 2026

The Australian dollar has dropped below 0.6850 to its lowest level since January and tested 0.68, with one update noting a brief move back above 0.6900 ahead of a US PPI release. The moves have been linked to a stronger US dollar on Federal Reserve tightening expectations and rising US bond yields, alongside a widening gap between Fed and RBA policy outlooks. That combination matters for AUD/USD because US rate expectations and yield moves are shaping demand for the US dollar relative to the Aussie.

Updated 13:18 UTC

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