Aussie Falls Below U.S. Dollar Parity on Greek Concerns
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The Australian dollar declined to less than parity with its U.S. counterpart for the first time this year amid concern that Greece will leave the euro bloc, curbing demand for higher-yielding currencies.
The so-called Aussie, the world’s fifth-most traded currency, remained lower against the yen after completing a three-week drop amid a worldwide slump in shares. Australia’s dollar weakened and bond yields fell to records even after China, the South Pacific nation’s biggest trading partner, lowered banks’ reserve requirements on May 12 to support growth.