THE Australian dollar has opened at its weakest level since August 2010 as US equity markets slide.
At 6.30am AEST the local unit was trading at 91.17 US cents, down from 92.62 cents at Friday's local close.
The currency fell below 92 US cents during offshore trade as Wall Street tumbled, with the Dow Jones Industrial Average losing 0.76 per cent, and the broad-based S&P 500 shedding 0.43 per cent although the tech-rich Nasdaq Composite Index inched up 0.04 per cent.
The fall in the Australian dollar comes a day ahead of the Reserve Bank of Australia's July board meeting, which economists expect will leave the cash rate on hold at 2.75 per cent.
Source:
http://www.theaustralian.com.au/business/markets/australian-dollar-at-august-2010-low-after-weak-finish-on-wall-st/story-e6frg91o-1226672317907
