From www.abc.net.au: The Australian dollar has fallen below 60 US cents, reaching a low of 59.33 US cents shortly after 8 am AEDT, marking its lowest value since the COVID-19 pandemic.

This decline resembles the levels observed during the global financial crisis and previous lows between mid-2000 and early 2003. The Australian dollar last traded below 60 US cents consistently during that earlier period.