The Australian Dollar has fallen below US 70 cents, and all signs suggest it will keep falling! As China slows and resource prices drop, the Australian economy is dangerously close to going into recession.
Read MoreToday the Peoples Bank of China cut interest rates by 0.25% to 4.60%. It is the fifth time the bank has cut rates in the last year, as it tries to stimulate the slowing Chinese economy. The move follows a sharp drop on the Chinese stock market, which saw the Australian Dollar drop to a new 6 year low. China is Australia's biggest trading partner, and the Australian Economy will feel the impact of China slowing. This is why the Australian Dollar is falling and we expect it will continue to fall.
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