Markets > Currencies

Aussie dollar drops below 70 U.S. cents

2019-06-11 08:11

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SYDNEY, June 11 (Xinhua) -- The Australian dollar has fallen sharply against the Greenback on Tuesday, with a strengthening U.S. dollar weighing heavy on the local currency.

At the Asian market open 07:00 (AEST), the Aussie dollar was trading at 69.60 U.S. cents, down from 70.05 U.S. cents at the same time on Monday.

Despite new data in the U.S. indicating that job openings had slowed during the month of May, the greenback actually strengthen with traders anticipating a downgrade in the American economy and another possible rate cut.

A lift in U.S. Treasury yields also helped move the U.S. currency higher, while driving the Aussie currency lower. At 09:00 (AEST), the Australian dollar was buying 69.59 U.S. cents.
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