The Australian dollar is tumbling in Asia


Weighed down by a sharp fall in stocks, weakness in commodities and more hawkish talk from US FOMC officials, the Australian dollar has come under renewed selling pressure on Tuesday, tumbling to as low as .6946 against its US namesake midway through the Asian session.

Currently the AUD/USD fetches .6950 with the pair currently on track to close at the lowest level seen since early September.

AUD/USD Daily Chart

While the Aussie has dipped modestly against the US dollar, its has fallen by a far greater margin against the Japanese yen and euro, an understandable reaction to the rise in risk aversion.

This week alone it has tumbled by 1.8% against the yen, and 1.5% against the euro.

Heavy declines in Asian stocks – markets in Japan, China, Australia and Hong Kong are all down by more than 1.84% midway through the session – are weighing on the Aussie at present.

Here’s the full Aussie dollar scoreboard:

  • AUD/USD 0.6950 , -0.0039 , -0.56%
  • AUD/JPY 83.12 , -0.69 , -0.82%
  • AUD/CNY 4.4230 , -0.0279 , -0.63%
  • AUD/EUR 0.6174 , -0.004 , -0.64%
  • AUD/GBP 0.4583 , -0.0023 , -0.50%
  • AUD/NZD 1.1023 , -0.0011 , -0.10%

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