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.
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Reuters
Will Willitts is a Sydney-based desk editor; previously posted in Washington, Frankfurt, Mexico City and Ottawa, he has worked with Reuters, Bloomberg and Dow Jones. Connect with Will on Twitter. Email Will at wwillitts@afr.com
