The Australian dollar had its worst weekly performance since May, caused by weak commodity prices with oil at significant lows compared with recent times. The drop came after a period of positive growth and oil reaching a two and a half month high of $0.7636 recently.

The interest rate hike in the US also put pressure on the Australian dollar in contrast to the rates being held at a record low of 1.50% by the Reserve Bank of Australia since the last easing in August 2016. There are signs that a further interest rate hike in the US could impact negatively on the Aussie dollar, and with conflicting signs regarding the same possibility in the UK, it could be in for a bumpy ride.