Reuters Australia
Aussie falls below 90 U.S. cents to 4-½ mth low
Friday August 8, 01:22 PM
SYDNEY, Aug 8 (Reuters) - The Australian dollar dropped to its lowest in more than four months against a resurgent U.S. currency on Friday, pulled down by growing expectations of domestic interest rate cuts in coming months.
The Aussie dollar AUD= dropped to $0.8993, its lowest since March 24 and down from $0.9110/14 late here on Thursday.
Financial markets CSRBA=CSAU are fully pricing in a 50 basis points rate cut in September, the first reduction by the Reserve Bank of Australia (RBA) in seven years, amid cooling demand in the economy. (Reporting by Anirban Nag)
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