The Australian dollar is tumbling

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The Australian dollar is under pressure, losing ground against all major currencies except the New Zealand dollar on Tuesday. Here’s the scoreboard as at 8.30am AEDT. With the exception of the Kiwi dollar which was undermined by a downgrade from the RBNZ’s inflation forecasts in its latest monetary policy statement, the Aussie fell against all major currencies, especially against a resurgent US dollar. Rodrigo Catril, Currency Strategist at the National Australia Bank, put the declines down to another spike in US bond yields and weakness in most major commodity markets. “US treasury yields are higher with the move led by … (full story)

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