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 Aussie dollar has shed almost five percent in the past two weeks against the US dollar, hurt by signs of weakness in the Australian and Chinese economies, broad strength in the greenback and a continued fall in commodity prices.

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.

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.

At 1700 AEST on Wednesday, the currency was trading at 97.82 US cents, down from 98.17 cents on Tuesday. The Australian dollar fell following the release of the Westpac/Melbourne Institute May consumer sentiment survey, which showed pessimists ...

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.

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

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

Recent speculation that the Federal Reserve was considering winding back its economic stimulus plan has helped the US dollar rally against all the major currencies, including the Australian dollar. In testimony to Congress last night, Australian time ...