Currency strategists say if Greece pulls out of the eurozone the dollar could fall much further.
Currency strategists say if Greece pulls out of the eurozone the dollar could fall much further. Jim Eagles

Dollar could fall if Greece bails

THE Australian dollar could fall below US90¢ if Greece pulls out of the eurozone, the chief currency strategist at Commonwealth Bank warned as leaders from the G8 group of nations worked over the weekend to combat the region's financial turmoil.

The dollar fell to US98.24¢ on Friday, its lowest level in nearly six months, after Moody's downgraded 16 Spanish banks, and the Fitch Ratings agency reduced Greece's credit rating to CCC on fears that anti-austerity parties would win the country's new elections.

Currency strategists say if Greece pulls out of the eurozone the dollar could fall much further.

Last week the S&P/ASX200 suffered its worst five-day return since September, shedding 5.6 per cent in value. The local bourse shed 110.9 points on Friday, or 2.67 per cent, to 4046.5 points, its biggest one-day loss since November.

Not helping the local market were increasing concerns that the Chinese economy is slowing appreciably. The big miners were among the stocks sold off the most last week.

Read more at Brisbanetimes.com.au
 


Shameful toll: Three dead in 61 days since state’s DV pledge

Premium Content Shameful toll: Three dead in 61 days since state’s DV pledge

Mum becomes third alleged Qld DV murder victim in two months

Patient, 93, left waiting as Premier grandstands

Premium Content Patient, 93, left waiting as Premier grandstands

Elderly Qld woman left waiting four hours at hospital after fall

TRY TIME: South Burnett to host Intrust Super Cup game

Premium Content TRY TIME: South Burnett to host Intrust Super Cup game

Rugby League’s premier state competition will be making its way to the South...