The Australian dollar was slightly lower against the US dollar on Tuesday afternoon in an impressive turnaround from 3-month lows reached earlier in the day. The rebound coincided with stock markets turning higher after a big 2-day plunge took Wall Street into negative territory year-to-date.

AUD/USD was lower by 12 pips (-0.17%) to 0.6748 with a daily price range of 0.674 to 0.677 as of 2.30pm GMT. In a choppy day of trading, the currency pair reversed early losses to turn positive but slipped again to turn slightly negative in the afternoon.

The US dollar

Risker currencies, including the forint stand a chance of recovering some of the recent losses once there are signs that the coronavirus infection rate is slowing. However, recent reports regarding the poor quality of healthcare being received by potential victims of the coronavirus in Wuhan has people alarmed. Locals interviewed by Reuters have commented on the unavailability of testing kits and inadequate quarantine conditions.

The US dollar has been part of a small cohort of haven currencies, including the yen and Swiss franc seeing demand amid the coronavirus outbreak in China this week. On Tuesday there was some evidence that market sentiment was turning with haven currencies off recent peaks and riskier currencies like the Australian dollar bouncing strongly off lows of the day.

The lift in sentiment comes after virus expert Zhong Nanshan, who leads the health commission team investigating the outbreak of the coronavirus (officially named 2019nCov) said the number of people infected will peak between one week and ten days.

The dollar lost some of its shine after some disappointing economic data suggested there is still a long way to go before US factories are back on their feet following a multi-month contraction. On Tuesday data showed US durable good orders for December rose 2.4% but that Non-defence Capital Goods Orders ex Aircraft fell -0.9% when no change was expected. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.