INVESTMENT banks have continued to go cold on the Australian dollar, with Credit Suisse's global strategists telling clients the Aussie could fall to US85c in 12 months because "this time it's structural".

SYDNEY�The Australian dollar's hefty monthlong decline continued Thursday after U.S. Federal Reserve Chairman Ben Bernanke hinted the central bank might start winding back economic stimulus in the coming months.

The RBA governor on a number of occasions has said the high Australian dollar was a factor in why the central bank had made a series of interest rate cuts, sending the cash rate to a record low of 2.75 per cent.

The Myer boss said a lower Australian dollar would deter consumers from buying on foreign websites and travelling overseas, while also attracting more tourists to our shores.

The Australian dollar dropped to a one-year low after the head of the United States Federal Reserve said he would consider winding down its economic stimulus program in the coming months.

It's been a volatile morning for the Australian dollar as the chairman of the US Federal Reserve was grilled about the future of economic stimulus to the American economy.

Australian dollar dives on Ford announcement. 6 hours ago. Markets · Currency · Australian Dollar. Local currency drops to fresh 1-year low after Ford flags closure of Aust plants.

Predictions of a further drop in the Australian dollar have been welcomed by Hunter exporters who have struggled to remain competitive in global markets.

Economists aren't convinced current weakness in the Australian dollar will continue, according to a survey of 15 banks by The Wall Street Journal on Monday.

Australian dollar lifts on Wall St rally. 20 May, 7:38 AM. Markets · Currency · Australian Dollar. Local currency slightly higher after US stocks closed week at record highs.