The Australian dollar has continued its downward trend, hitting fresh lows against the US dollar. The currency pair reached levels not seen since the global financial crisis in 2009.

Several factors are contributing to the Aussie’s weakness. Concerns about the slowing Australian economy, particularly its reliance on commodity exports, are weighing on the currency. The strength of the US dollar, driven by expectations of rising interest rates, is also putting downward pressure on the Australian dollar.

Analysts are closely watching upcoming economic data releases for further clues about the direction of the Australian dollar. Any signs of improvement in the Australian economy could provide some support for the currency, while continued weakness could lead to further declines.

Here are some factors affecting the AUD:

• Commodity prices
• Interest rate differentials
• Global economic growth