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Aussie Plummets To 7-week Low Against Yen, 2-day Low Against Greenback 75 days ago
(RTTNews) - Extending its early morning slide, the Australian dollar edged down against the currencies of the US and Japan in early trading on Thursday as risk averse traders sold off higher-yielding assets and moved in to the safe-haven currencies like the dollar and the yen.
The aussie plummeted to a 7-week low of 79.41 against the Japanese yen around 7:40 am ET, compared to 81.44 hit late New York Wednesday. The aussie-yen pair is presently worth 79.56 with 77.5 seen as the next likely target level.
Against the greenback, the Australian currency declined to a 2-day low of 0.9156 by 7:40 am ET and a move below the 0.911 support level may pull down the pair to its lowest level in nearly six days. The aussie-buck pair that closed yesterday's deals at 0.9323 is presently quoted at 0.917.
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