The Australian dollar has tumbled to its lowest level in years

Martin Steinthaler / Hoch Zwei / Getty Images

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.

Investing.comAUD/USD 5-Minute Chart

The AUD/USD currently sits at .7028, slicing below previous support at .7040 to trade at the lowest level since February 2016.

Investing.comAUD/USD Weekly Chart

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%

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.