Special Update: Australian Dollar hits 4-year low
There has been continued weakness in commodity prices and stronger than expected US private-sector jobs growth overnight combining to take the Australian dollar through critical support at the 0.8650 mark.
The Aussie hit a four year low overnight of 0.8565 as the Greenback strengthened across the board.
Investors are now viewing the next major downside target of 0.8350 followed by the 2010 low of 0.8050. Topside targets now in place at 0.8650 in what’s shaping as a volatile end to the week.
Australian unemployment data came in right on expectations at 6.2 per cent providing some respite for the currency.