Global growth fears drag Aussie dollar to near 2-year low

Published by
Reuters UK

By Alun John HONG KONG (Reuters) – The Australian dollar hit its lowest level in nearly two years against the dollar on Tuesday and other commodity currencies also fell, hurt by fears of slowing global economic growth. The Aussie dollar dropped as low as $0.6908, its weakest since July 2020, having fallen 1.7% overnight. “The Aussie is primarily a risk sensitive currency and in recent days the market has become more concerned about the global growth outlook, with risk aversion also seen in the big declines in equity markets around the globe. Against that backdrop its not surprising to see it s…

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