The Australian dollar fell today, heading for the second weekly loss against the US dollar and the Japanese yen, as stocks and commodities declined on concerns that problems in the US and Europe will have negative impact on the global growth.
The MSCI Asia Pacific index of regional shares was little changed today, while it dropped 2 percent over this week, following three weeks of gains. The Thomson Reuters/Jefferies CRB Index of commodities slipped 1.3 percent. Investors are betting that the Reserve Bank of Australia will cut its key interest rate by 34 basis points over a year, according to Credit Suisse Group AG.
AUD/USD fell from 1.0723 to 1.0653 and AUD/JPY dropped dropped from 84.84 to 84.30 as of 10:17 GMT today.
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