Aussie dollar drops below parity

THE Australian dollar has dropped below parity with the greenback for the first time in 2012 as investors fret over the outlook for the economy at home and abroad.

Overseas travel and shopping from foreign websites will be less attractive as the cost in local terms rises for Australian consumers.

The Australian dollar sank recently to as low as 99.96 US cents after threatening to break back through the parity level for some time.  It hasn't bought less than $US1 since December 21 last year.

Sydney-based FOREX.com market analyst Chris Tedder said a variety of factors had conspired against the currency, will overseas factors playing a big role.

''We don't have a lot of upside for the Aussie at the moment," Mr Tedder said. "On the downside, we've got political uncertainty in Greece, we've got the Spanish banks, and disappointing economic data of late both domestically and in our largest trading partner - China."

Read more at Brisbanetimes.com.au



One new virus case in Queensland

Premium Content One new virus case in Queensland

Deputy Premier to update state's COVID case total

BREAKING: Hundreds without power after car crashes into home

Premium Content BREAKING: Hundreds without power after car crashes into home

More than a thousand homes are without power after a single car accident

MP: Four lanes north of Gympie ‘decades’ away

Premium Content MP: Four lanes north of Gympie ‘decades’ away

"We shouldn't be building it to a two-lane standard."