The US Dollar to Australian Dollar exchange rate has declined substantially today, primarily because the US Dollar is still reeling from a detrimental attitude regarding the impending Federal Open Market Committee (FOMC) Interest Rate Decision.
The Australian dollar dug in its heels on Thursday, recovering after it had slipped earlier on the slump in oil prices and holding up despite the intensifying commodities rout, and further evidence that interest rates in the US are tipped to rise next ...
The Australian dollar tumbled below US71� on Tuesday on renewed US dollar strength and falling commodity prices. The local currency fell 0.7 per cent from its high of US71.32� on Monday evening to hit a low of US70.81� in late US trade.
Shares in Billabong have plunged after the surfwear and skateboards retailer revealed the lower Australian dollar and weakness in the North American market had dented earnings in the first four months of fiscal 2016.