Aussie Dollar Chained to Iron Ore Adds to RBA Pressure: ChartBy
The Australian dollar has dropped 5.5 percent this month as a 22 percent plunge in iron ore prices gave investors another reason to sell the currency after the Reserve Bank of Australia cut interest rates on May 3. The Aussie was little changed at 71.88 U.S. cents as of 11:10 a.m. in Sydney on Wednesday.
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