Lower than the overnight lows on the back of the China said to issue alert on credit risks in the coal industry headline (and ’cause of the downtrend, too).
- Lowest since July 2010 for the aussie/us
- Note – there are buyers at 0.8700/05 as per the orderboard earlier today … but not much underneat
Also, From Helen Ridout of the RBA, laying the boot in:
- “A dollar around US$0.80 would be a fair deal for everybody”
- RBA board member Ridout, who has a background in manufacturing and as part of the manufacturer’s lobby group AIG has said 0.8000 is fair value for the AUD
- More from Ridout here
NZD/USd lower too, but still trying to break through its area of short-term support around current prices. I mentioned earlier I thought we would break lower for the kiwi … still trying!