While commenting on the Australian dollar, Commsec’s Chief Economist, Craig James, said that it has fallen sharply in the last five months against the American dollar.
Even as the stock market was bearish, the Australian dollar fell sharply to a five-month low against the American dollar.
“The greenback is basically strong against all major currencies, and certainly, it’s strong against our currency,” Mr. James revealed.
“It was only a couple of days ago when we were at 66 US cents; now we are at 64 cents.”
“Those people who are planning to go away on overseas trips are not overly chipper when you have the currency down to around 64 cents US.”
- Published By Team Australia News
