The Australian dollar was marked by a record fall to a new low the last four years
The Australian dollar were long resisted but then succumbed the downward trend, and has lost what he had catched for the last 4 and a half years in relation to the US dollar. This happened during the Asian session amid rumors of a possible reduction in interest rates at the beginning of 2015. The Australian bank may dare on such step in the near future in order to avoid movement of the economy towards recession.
The Australian dollar was 0.8242 US dollars, compared with 0.8284 dollars late Tuesday. Comments from the chief economist of National Australia Bank, Alan Oster, only reinforced the rumors about the possibility of rate cuts in 2015 in three phases. For Australia, the country of raw materials, lower prices threatens the loss of the economy about $ 55 billion in export revenues over the next two years.
The index of business confidence fell from 4 points to the 1 point in November compared to October, and conditions of business dealing declined by 8 points. Iron ore, the largest export commodity of the country, continues to fall in price and in cost expression has halved from January 2014. At the same time, according to the central bank Australian dollar has been overvalued.