Markets > Currencies

Australian dollar slides

SYDNEY
2019-06-13 08:10

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SYDNEY, June 13 (Xinhua) -- The Australian dollar weakened against the greenback on Thursday, with predictions of record low interest rates threatening further declines.

At 07:00 (AEST), the Australian dollar was buying 69.31 U.S. cents down from 69.62 U.S. cents on Wednesday.

Contracting consumer confidence was partly behind the move and predictions for further interest rate cuts also weighed.

"Tonight's Australia May employment report risk dragging AUD lower," Commonwealth Bank senior currency strategist Elias Haddad said.

"An unemployment rate above 5 percent will reinforce expectations of more rate cuts because it would indicate that labor market slack remains plentiful."

At 09:30 (AEST), the local unit was buying 69.31 U.S. cents.
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