07.11.2014 - Commodity and US dollar driven Australian currency plunge to help exporters
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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