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Aussie dollar drops to 73 U.S. cents

Xinhua News,SYDNEY
2020-11-18 08:06

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SYDNEY, Nov. 18 (Xinhua) -- The Australian dollar dropped to 73 U.S. cents on Wednesday, as markets absorbed the previous day's positive COVID-19 vaccine developments.

At 07:00 (AEST), the Australian dollar was buying 73.04 U.S. cents, down from 73.14 U.S. cents on Tuesday.

"AUD/USD has been on the back foot in recent trade, most recently dropping below the 73 U.S. cents level to set fresh lows of the day around 72.90 U.S. cents," FX Street market analyst Joel Frank said.

At 09:30 (AEST), the local unit was buying 72.99 U.S. cents.
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