The Australian dollar has fallen below 86 US cents for the first time in four years. The local currency fell around 2 per cent overnight as investors rallied around the US dollar as the business-friendly Republicans took control of both houses of Congress.
Around midday today (AEDT) the Australian dollar reached a low of 85.55 US cents, its lowest level since July 2010, and had not recovered much since. National Australia Bank's co-head of global foreign exchange strategy Ray Attrill said a sharp fall in commodity prices is also responsible...............................................Full Article: Source
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