The Australian Dollar Is At A Three-Year Low After Yesterday's QE Call And Weak China Data

Now it is nearly at 91 cents, after Federal Reserve chairman Ben Bernanke hinted at the end of QE, and the Flash China PMI came in at a 9-month-low yesterday.

That’s nearly a three-year low for the Australian dollar.

“The link between the China growth story and the Aussie dollar remains crucial,” Michael Judge, a dealer at OZForex Pty Ltd. told Bloomberg.

Photo: Getty/Alex Wong

“We all know the only way interest rates are heading in this country at the moment is south, and obviously weakening China growth doesn’t help that prognosis,” he said.

Via, this chart shows the Australian dollar trading at 91.9 against the US-dollar:

Major indices around the world are also all down, with investors running for the door after Bernanke hinted he might wind down his multi-billion bond-buying spree, described by at least one banker as the open-bar equivalent of international finance.

Click here for live updates on the AUD.


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