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Australian Dollar Drops as RBA’s Battellino Says Weaker Currency May Help

The Australian dollar dropped as Reserve Bank of Australia Deputy Governor Ric Battellino said a likely fall in the currency will help insulate the nation from an economic slump in Europe, where a “disruptive event” can’t be ruled out.

The so-called Aussie slid 0.3 percent to 99.88 U.S. cents at 12:40 p.m. in Sydney from yesterday in New York.

To contact the reporter on this story: Benjamin Purvis in Sydney at bpurvis@bloomberg.net

To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net

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