Australian dollar heads lower in currency trading
Aussie is losing ground in forex trading today, dropping as risk aversion sets in. The Australian dollar is down in currency trading as concerns about global economic growth hold back a number of currencies and other riskier assets.
Specifically, the Aussie is being impacted by concerns about Chinese growth. China has been struggling, and it doesn?t help, either that the US economy isn?t recovering at the pace many would like. Additionally, the eurozone continues to provide a fresh source of worry.
Gold prices are down today as well, and that is weighing on the Aussie in forex trading. Greenback is higher against high beta currencies, and Australian dollar is pulling back.?
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Source: http://oakshirefinancial.com/2012/03/30/aussie-loses-ground-in-forex-trading/
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