Australian Dollar in Freefall as Stock Markets crash around the world
The Australian Dollar fell to a 6 year low US$70.37 as stock markets around the world have lost billions of dollars over the last 24 hours. This was first time the Aussie had traded below US$72c since the GFC back in 2009.
As well as Australia, markets in The USA, UK, Germany, France, Italy and Spain plummeted after China’s Shanghai Composite Index lost 8.5% yesterday – the country’s largest loss in eight years.
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