THE Australian dollar has plunged to three-year lows versus the US dollar this week, buffeted by international uncertainty and a gloomy outlook for the global economy.
The dollar was trading as low as US64.39c this morning, falling US2.5c over the past week, and 4.6c or seven percent over the past month.
Apart from a period around March 2020 when the currency sank briefly to US58c on early COVID impact fears, the currency value has not been this low since early 2009.
Almost all of Australia’s export beef and lamb trade is conducted in US dollars, and the lower the value of the A$ the…
