The Australian dollar fell back below 88 US cents despite global growth fears, which pushed share markets down.
On Friday, the Aussie traded at 87.79 US cents, down from Thursday’s 88.68 US cents. The currency was at ¥94.59 from Thursday’s ¥95.71. It also traded at 69.08 euro cents, previously 69.62 euro cents.
Fears escalated following economic growth projections for Germany were lowered.
Around $34 billion was lost from the Australian share market in its biggest daily decline in 15 months.
“We’re seeing some risk aversion with global stock markets falling, in the US, Europe, Australia, Japan and Hong Kong,” said Joseph Capurso, Strategist at Commonwealth Bank.
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar fell back below 88 US cents despite global growth fears, which pushed share markets down.
On Friday, the Aussie traded at 87.79 US cents, down from Thursday’s 88.68 US cents. The currency was at ¥94.59 from Thursday’s ¥95.71. It also traded at 69.08 euro cents, previously 69.62 euro cents.
Fears escalated following economic growth projections for Germany were lowered.
Around $34 billion was lost from the Australian share market in its biggest daily decline in 15 months.
“We’re seeing some risk aversion with global stock markets falling, in the US, Europe, Australia, Japan and Hong Kong,” said Joseph Capurso, Strategist at Commonwealth Bank.
The material has been provided by InstaForex Company – www.instaforex.com
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