57.93 US cents per dollar, that’s what the screen said when I opened it this morning. The session low came in at 57.25. The Aussie dollar crashed against all the majors bar the Sterling. It accounts for a AUD$8.69 worth of movement in canola and about AUD$9.66 worth of movement in SRWW futures at Chicago conversion. If you need new furniture buy it now, new imported floor stock will go up.
The reasoning behind the decline in the Aussie dollar and many emerging market currencies is …… mixed. You can read all the tin foil hat waring conspirators commentary you like, and yes some of it does make a lot of sense at the moment, or you can follow the media and agree it is 100% the result of a pandemic……
I tend to believe the US, and China considering their currency is linked to the USD, are about to embark on a global shopping spree. Who the seller chooses to supply may well help determine what the next major global currency looks like.  Pass me a tissue, I think I might self-isolate for 6 months, this could get ugly..er.

Algeria picked up 400kt of durum wheat on Tuesday night. Reports are that the business went through at around US$333 CFR. This purchase follows in the footsteps of a 680kt milling wheat purchase last week. Converting the durum price to an Aussie port values at current dollar values comes in somewhere around AUD$475 port less rail. It also tends to lead one to believe the reports of poorer crops across N.Africa are probably correct.