The Australian dollar dropped to a four-month low after US President-elect Donald Trump pledged large tariffs on the country’s three largest trading partners – Canada, Mexico and China – sending the greenback soaring against its peers.
The Aussie dollar dropped to US64.32¢, the weakest level since early August, before rebounding to just under US65¢. It has slumped US5¢ in just two months, and banks are warning that its future looks bleak.
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Cécile Lefort is a markets reporter based in the Sydney newsroom. Cécile worked in New York and Hong Kong writing about global capital markets. Email Cecile at cecile.lefort@afr.com
