Aussie dollar hits five-month low against US greenback

Economist Evan Lucas told Today the downward shift could be attributed to ongoing geopolitical tensions and turmoil in the oil market which had driven money to the US."The reason it's a problem for inflation is that as a nation, we tend to import a lot of the things we consume," Lucas said.

"We are great when things are going really well, when commodities are really booming, etc, which, don't get me wrong, they're doing quite nicely. "Right now, while the dollar is so low, the Aussie dollar gets sold off along with players like, you know, New Zealand and Canada."And that's where the money goes to, is to the US, and tends to also go to the Swiss."

Source: Loan Digest (loandigest.net)

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