US GREENBACK HIT A FIVE-WEEK HIGH
Wednesday, July 8, 2015
Australia's dollar slumped below 74 US cents for the first time in six years overnight, as the US dollar continued to go from strength to strength.
The Aussie briefly dipped to US73.98¢ just after midnight AEST on Wednesday morning before recovering. At 6am AEST, it is fetching around US74.50¢. Overnight, the US greenback hit a five-week high against most major currencies on the back of continuing global concerns, as unfinished efforts to address Greece's debt crisis and a rout in commodities pushed investors into the safest assets.
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