Wall Street saw its biggest one day swing in six months and the Australian dollar dropped overnight as investors raised concerns that the US Federal Reserve will scale back its stimulus program shortly.

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.

Australian dollar tumbles on Ford, Chinese PMI. 11 hours ago. Markets · Currency · Australian Dollar. Local currency drops to fresh 1-year low on Ford closures, weak data.

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.

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

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.

Australian dollar gains at noon. 21 May, 1:15 PM. Markets · Currency · Australian Dollar. Local currency recovers from falls on profit taking in early trade ahead of Bernanke speech.