The Australian dollar is edging closer to the cycle's lows, again slipping below US86� on Tuesday. The dollar lost the gains it made from China lowering its official interest rate, trading around US86.07� for most of the day.
The Australian dollar dipped to a fresh low overnight, breaking through US85� before rebounding, as a wave of technical sell points were triggered following days of continued pressure on the local currency.
Further weakness in global oil prices could be on the cards as crude producers fail to agree on measures to curb output ahead of this week's OPEC meeting, but local currency strategists say this will have limited impact on the commodity-linked ...
We publish ANZ's latest findings on the AUD on the day Deputy Governor of the Reserve Bank of Australia, Philip Lowe, tells us an overvalued currency is proving counter-productive to efforts to rebalance the Australian economy away from mining.
... dropped as low as 84.80 US cents, its weakest level since July 2010. The greenback came under pressure in the overnight session after the release of disappointing US employment and manufacturing data.