Finance Finance News Dollar weakens after RBA chief Stevens comments

Dollar weakens after RBA chief Stevens comments

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The Australian share market was in down slightly at lunchtime today with the All Ordinaries index off 6.3 points to 5201 and the Australian dollar was slightly weaker at US82.64c after Reserve Bank Governor Glenn Stevens said he wanted to see the currency down at US75c.

 •Westpac expects economy to pick up in 2015
•RBA chief Stevens calls for Canberra to fix the budget

The US market was up strongly overnight with the Dow Jones Industrial Average up 63.2 points or 0.4 per cent to 17596.34 on the back of growth in employment and retail spending in the US.

Greece’s woes continue with the Athens stock index falling seven per cent as investors fret about political stability with presidential elections imminent.

Oil price weakness remains with the West Texas Intermediate crude price closing below $US60 ($A72.60) a barrel overnight.

That’s the lowest since July 2009 and represents a 40 per cent fall since June.

In London stocks were down 0.6 per cent.

 

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