The Australian dollar has fallen overnight to a three-year low against its US counterpart as President Trump signalled he was not shying away from his fight with Beijing over trade and tariffs.

At 7.55am AEST, the $A traded at US69.45¢. It is down 14.5 per cent in the past 16 months and is now at its lowest trading level since January 2016. In the January 3 torrent of automated selling – popularly known as the flash crash – that hit foreign exchange markets, it briefly plunged to US67.15c.

Reuters