... savaged budget revenues," Mr Swan said. 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.

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".

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.

Australian dollar tumbles on Ford, Chinese PMI. 6 hours ago. Markets · Currency · Australian Dollar. Local currency drops to fresh 1-year low on Ford closures, weak data.

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 ...

High dollar claims another scalp. Colin Brinsden, AAP Economics Correspondent, AAP May 23, 2013, 3:19 pm. The persistent strength of the Australian dollar is one factor behind the demise of another Aussie icon - Ford Australia. The car maker announced ...

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.

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