Australian dollar falls

dollarThe Australian dollar has dropped as the US dollar gains further ground following the US Federal Reserve’s recent interest rate hike, with the central bank forecasting another three rate rises next year.

At 0730 AEDT on Friday, the local unit was trading at 73.53 US cents, down from 74.14 cents on Thursday.

Imre Speizer, Westpac senior market strategist, said the momentum in the Aussie has “flipped to negative”, thanks to the US dollar’s surge.

“The US dollar has had an impressive rise since the US election and has potential to rise further during the months ahead,” he said in a research note on Friday.


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.


Comment Manually

Inside Retail Polls

Has bullying ever occurred in your workplace?


We reveal the freshest changemakers, disruptors and trendsetters in the latest issue, grab a copy today:…

1 day ago

Have you heard of Toymate? What was once a small family business has become a rapidly expanding retail chain fillin…

2 days ago

Mecca posted a detailed letter on its website, saying it needs to do more to stop workplace bullying. #retail #workplace #hr #ausbiz

2 days ago