The Australian dollar has drifted back below US94� as the greenback strengthens on dwindling risk appetite. At 10:15am AEST on Monday, the local currency was trading at US93.92, down from 94.15 cents on Friday.
The Australian dollar rose to its highest level in two weeks against the U.S. dollar and the yen Wednesday after inflation data dented investors' expectations that Australia's central bank would cut interest rates before 2015.
Over the next few days the Pound Sterling to Australian Dollar (GBP/AUD) exchange rate consolidated losses in response to slightly disappointing UK retail sales figures and China's encouraging manufacturing report.
Australian exporters may need to wait until the Federal Reserve raises rates before there is any relief from a high Australian dollar, which has risen in 2014 on the back of surging demand for the country's triple-A-rated bonds. The WSJ's James Glynn ...