| The Australian dollar is back below US78c as commodity prices fall and the US dollar bounces back from last week's fall. At 7am (AEDT), the local unit was trading at US77.97c, down from US78.36c on Monday.
OM Financial senior client adviser Stuart Ive said the US dollar fared well despite new data showing that US sales of existing homes tumbled 4.9 per cent in January. "A stronger US dollar means weaker commodity prices and that's really what is weighing on the Australian dollar for the time being," he said...............................................Full Article: Source
|