Australian dollar drops to near eight-month low

THE Australian dollar has dropped to a near eight-month low overnight.

An Australian one-dollar coin is arranged for a photograph in Sydney, Australia, on Wednesday, April 17, 2013. Direct trading between the Australian dollar and yuan started on April 10. Photographer: Ian Waldie/Bloomberg

THE Australian dollar has dropped to a near eight-month low overnight.

At 0630 AEST on Tuesday, the local currency was trading at 88.75 US cents, down from 89.15 cents on Monday.

The Australian dollar fell as low as 88.53 US cents overnight, its lowest point since February 4.

Originally published as Australian dollar drops to near eight-month low