Earth movers shake the Aussie dollar

As BHP and other mining companies switch investment away from Australia and towards the US, the Australian dollar will continue to come under pressure.

The Australian dollar is looking very shaky as investors suddenly realise that before too long our currency is likely to fall below parity with the American dollar.

Last night we slipped below $1.02 US cents and lost some recent gains against the euro. Against the US dollar we are down some 3 per cent from the levels of just over a month ago and the 2011 peak of $1.10 is now a distant memory.

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