Australian dollar lower against strengthened greenback
THE Australian dollar is lower against the strengthened greenback after a speech by US Federal Reserve chair Janet Yellen surprised the market.
THE Australian dollar is lower against the strengthened greenback after a speech by US Federal Reserve chair Janet Yellen surprised the market.
At 0630 AEST on Monday, the local currency was trading at 92.96 US cents, down from 93.25 cents on Friday.
The Australian dollar strengthened ahead of Friday night’s Jackson Hole economic summit in the US, amid expectations that Dr Yellen would deliver a downbeat assessment of the US economy. But her speech was neutral, with no new information, which boosted the greenback.
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