aussie dollar dips below us dollar parity
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Aussie dollar dips below US dollar parity

Arab Today, arab today

Arab Today, arab today Aussie dollar dips below US dollar parity

Sydney - AFP

The commodities-linked Australian dollar on Thursday slumped below parity with the greenback for only the third time since October due to disappointment at the US Fed's new plan to support its economy.The "Aussie" sank under US$1.00 in early afternoon trade and continued trending lower, hitting 99.84 US cents late in the session.Since breaching parity in October last year the Aussie has rallied consistently near or above the US$1.00 mark. It hit a record of US$1.1081 in July. It retreated briefly in the immediate aftermath of Japan's quake and nuclear crisis before again dropping below US$1.00 on August 9 following Standard & Poor's downgrade of the United States.The latest drop-off in sentiment for the the risk-based currency came after the Federal Open Market Committee announced plans to shift $400 billion in its shorter-term debt portfolio holdings to longer-term bonds. The bid to lower long-term interest rates and stimulate the economy was not received well by the markets and was accompanied by a grim picture of the US economy from the Fed. GFT director of global research Kathy Lien said currencies and equities were sold off after the announcement with investors disappointed by the Fed's "feeble attempt to revive the US economy"."They could have combined (this) with a reduction in the interest rate on reserves or announce a new asset purchase programme, but they opted for the cheapest and weakest option, next to doing nothing," she said. "By buying and selling the exact same amount of Treasuries, the balance sheet remains unchanged, which means no additional money was pumped into the US economy."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

aussie dollar dips below us dollar parity aussie dollar dips below us dollar parity

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

aussie dollar dips below us dollar parity aussie dollar dips below us dollar parity

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday