At 7.30am (AEST), the Australian dollar was buying US93.73c, down from US93.92c at the close of local trading yesterday. Over the past 24 hours the currency has moved within a tight band of US93.70c to US94.02c.
The AUD cross rates with most major currencies improved and the AUDEUR rate moved above .7000 briefly. The AUDNZD rose after the Reserve Bank of New Zealand raised their cash rate another 25 bps to 3.50% but indicated that further rises would be on ...
The Australian dollar is set to dive to its lowest level in half a decade. This year's BusinessDay economic survey has it hitting US86� by June 30, a fall of 8 per cent from its recent range of US93� to US94�.
The Australian dollar is hovering below US94� amid easing concerns over the health of Portugal's biggest listed bank. At 6.30am AEST on Monday, the local currency was trading at 93.77 US cents, down from 93.87 cents on Friday.