Australian dollar slides

dollar01The Australian dollar is lower after US stocks fell on Friday as tensions about Syria results in cautious trade on financial markets.

At 0635 AEST on Monday, the local currency was worth 77.73 US cents, down from 77.90 US cents on Friday.

Wall Street traded in negative terriory on Friday, weighed down by falls in financial stocks, as results from big lenders including JPMorgan failed to enthuse investors who were already nervous about the conflict in Syria.

One Australian dollar buys 83.56 Japanese yen, from 83.82 yen, and 63.01 euro cents, from 63.22 euro cents.

AAP

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