The Australian dollar has plunged to its lowest level in nearly five years, sparking concerns among financial experts who warn that further declines may be imminent. On Thursday morning, the AUD dropped to 61.84 US cents, its lowest point since April 7, 2020, before slightly recovering to 61.89 US cents. The currency also weakened against the British pound, trading at just 0.49 pence. AUDUSD WEEKLY CHART: Published by TradingViews Analysts predict the Aussie dollar could slide even further, with some expecting it to drop to 60 US cents or below. Gareth Berry, a foreign exchange and rates strategist at Macquarie Bank Ltd Singapore, told Bloomberg: “A fall to 60 cents is conceivable if global risks escalate, including a sharp downturn in US equities, insufficient fiscal stimulus from China, and rapid rate cuts by the Reserve Bank of Australia (RBA) to stabilize the economy.” Similarly, Westpac’s head of foreign exchange strategy, Richard Franulovich, noted that the RBA could move toward easing monetary policy soon. He highlighted indications from the RBA’s December meeting minutes suggesting the central bank might consider cutting interest rates as early as February to address growing economic pressures. The ongoing volatility highlights the challenges facing the Australian economy amid global trade uncertainties and domestic fiscal constraints.