The Australian dollar has fallen to fresh multi-year lows against the greenback, tumbling in Asian trade on Friday as the Chinese yuan hit fresh decade-lows.
The AUD/USD currently sits at .7028, slicing below previous support at .7040 to trade at the lowest level since February 2016.
The low so far for the session has been .7024.
Given its close economic ties to not only China but many emerging markets across Asia, as well as being a highly-liquid currency compared to many Asian peers, the Aussie’s movement are often reflective of sentiment shifts towards the Chinese economy.
Here’s the scoreboard at 4.20pm in Sydney.
AUD/USD 0.7028 , -0.0051 , -0.72%
AUD/JPY 1.3109 , 0.00 , 0.31%
AUD/CNH 4.9024 , -0.0215 , -0.44%
AUD/EUR 0.6185 , -0.0037 , -0.59%
AUD/GBP 0.5484 , -0.0038 , -0.69%
AUD/NZD 1.0856 , 0.001 , 0.09%
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