Business News

Aussie dollar drops 2 US cents

| More

The Australian dollar tumbled overnight, following investor fears over Italy and the economic crisis in the greater eurozone region.

The dollar was trading at 101.16 US cents this morning, down more than two US cents from yesterday’s 103.62 US cents.

Contributing to the significant fall was fears over Italian 10-year government bonds, the yields of which have increased to 7.4 per cent. This level is close to that which pushed other eurozone countries to seek bailouts.

The market, and the Australian dollar, will be waiting on news tonight as key talks on Italy’s debt package continue. Italy’s vote on a new austerity package will mark Italian PM Silvio Berlusconi’s last act before he resigns.

Published on: Thursday, November 10, 2011

blog comments powered by Disqus

Today on Switzer

  • skynews9091070038

    The Hon Wayne Swan MP

    Video

    Former Deputy Prime Minister and Treasurer – and the man named Finance Minister of the Year in 2011 – The Hon Wayne Swan reveals insights from his new book ‘The Good Fight’. (Broadcast Wednesday 27 August 2014.)

    See more

  • skynews9091097038

    Martin Lakos

    Video

    Martin Lakos of Macquarie Private Wealth analyses the outlook for China, and whether the recent drop in iron ore prices is just a temporary blip on the country’s overall economic recovery. (Broadcast Wednesday 27 August 2014.)

    See more



  • skynews9089151038

    ST Wong

    Video

    Portfolio Manager ST Wong of Prime Value looks at all the latest market action, plus how he’s investing for the rest of the year. (Broadcast Tuesday 26 August 2014.)

    See more

  • skynews9089230038

    Lance Lai

    Video

    He’s back! Lance Lai of Accountancy Invest shares his insights about what we can expect on the markets, and whether we’re in a market melt-up. (Broadcast Tuesday 26 August 2014.)

    See more


Subscribe_normal_normal

  THE SWITZER FEED
Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300 Pixel_admin_thumb_300x300