Australian dollar drops

The Aussie dollar is buying 67.47 US cents, down from 67.52 US cents on Thursday.

One Australian dollar buys 72.79 Japanese yen, from 72.73; 61.88 euro cents, from 61.69; 54.79 British pence, from 54.66 and 107.32 NZ cents, from 107.64.

This week saw under-performing shares across the ASX, falling for three days straight to Thursday.

“It’s just been a slow bleed in price. There’s certainly not panic, it’s just a slow grind on reasonably low volume,” said Pepperstone head of research Chris Weston.

“There’s no one buying the markets today,” he said. “It’s a bit of a nothing day really.

“Next week will be a huge week,” Mr Weston added, referring to a Reserve Bank decision on another possible rate cut and key economic data from the US and China.

Every sector on the ASX was lower on Thursday except for utilities, which were flat.


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