Australia News
Australia’s currency is slumping in value as we navigate a year when major economies were predicted to be in recession. The Aussie dollar is hovering around a nine-month low against the greenback, and CBA says there’s a risk it could fall below 60 US cents. It might be good news for exporters and international visitors, but importers are being squeezed and a weak Aussie dollar will fuel inflation causing a headache for the Reserve Bank. The dollar is caught between a hot US economy, where interest rates are higher than Australia and a cooling China.
Credit ABC News (Australia)
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