The Australian dollar dropped overnight to its lowest level this year, continuing a downward trajectory as a gloomy outlook for commodity exports weighs on domestic shares.
The Aussie dropped 0.6 per cent overnight to 63.35 US cents. The currency has tumbled in recent weeks, tracking falls in mining stocks that followed muted retail sales data from China and a disappointing stimulus announcement from Beijing last week.
Source: https://www.afr.com/markets/equity-markets/asx-to-slip-wall-street-broadly-lower-20241218-p5kz6p