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Aussie dollar drops to a three-year low
The Australian dollar has fallen to its lowest levels against the greenback in nearly three years. Just after 3pm on Wednesday the Aussie was buying 70.08 American cents, down 0.45 cents from Tuesday and down 0.64 per cent on the day. It crashed between 12.22 pm and 1.39 pm, dropping from 70.436 cents to a low of 70.02 cents. The last time it was so low was in January and February 2016, when it traded as low as 68.28 cents against the greenback. Commsec market analyst James Tao attributed the dip to Chinese manufacturing data that came in weaker than expected. "China of course being a major trading partner, it's a big ... (full story)
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