Australia's currency is slumping in value as we navigate a year when major economies were predicted to be in recession. The Aussie dollar is hovering around a nine-month low against the greenback, and CBA says there's a risk it could fall below 60 US cents. It might be good news for exporters and international visitors, but importers are being squeezed and a weak Aussie dollar will fuel inflation causing a headache for the Reserve Bank. The dollar is caught between a hot US economy, where interest rates are higher than Australia and a cooling China. Subscribe: http://ab.co/1svxLVE
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Read more here: https://rb.gy/5t8mf
ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation.
For more from ABC News, click here: https://ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: https://ab.co/2OB7Mk1
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