Exchange rate refers to the value of one currency in relation to another. It is the price at which one currency can be exchanged for another. Exchange rates are determined by a variety of factors, including supply and demand for each currency, economic and political conditions in each country, interest rates, inflation rates, and other factors.
In early Asian trading on Monday, the AUD/USD fell sharply to 0.6300. After the release of US non-farm payrolls data last Friday, the AUD/USD encountered resistance at 0.6400. AUD/USD opened…
