iron ore price, page-549

Australian Dollar:
The Australian dollar continued to drift lower on Tuesday after China’s CB Leading index failed to impress. The Aussie broke into the US85 cent range through daily trade down from the open of 0.8613, however movement was light in anticipation of RBA Deputy Governor Lowe’s talk later on. Lowe sent the Aussie spiralling as he talked about potential further rate cuts under the record low they currently sit at, saying the RBA would make the move if necessary. Overnight offshore data could not help the higher yielding currency as it opens this morning nearly a cent lower at 0.8525 against the Greenback. Today will see construction figures released locally however eyes will be firmly focused on an array of high impact US data later tonight.