Australian dollar falls

dollar03The Australian dollar is down sharply against the greenback, falling back below 75 US cents, as the US dollar gains after an influential Federal Reserve official expressed confidence that rising wages would help revive domestic inflation.

At 0635 AEST on Tuesday, the Australian dollar was worth 75.98 US cents, down from 76.11 US cents on Monday.

New York Fed president William Dudley on Monday said labour market tightening should help drive up inflation, which offset concerns by some investors that stubbornly low inflation would not allow policy-makers to raise rates further the rest of this year.

The local currency is higher against the yen and the euro.

AAP

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.

Comments

Comment Manually

Inside Retail Polls

Schwarz Group, Aldi and the big two
How will the Aussie entry of either Kaufland or Lidl impact the supermarket industry?

Inside Retail Directory

Twitter

Why do shopping centres struggle with innovation so much? https://t.co/TQHuSDUh8d

3 days ago

US president says Amazon causing “great damage" to tax-paying retailers. https://t.co/MZ1huApP8Y

3 days ago

You don't need much AI to work out that different climates means different jackets. https://t.co/WjXVSniZTr

3 days ago
x

SUBSCRIBE
FREE NEWS BRIEFS Get breaking news delivered