The Australian dollar is under immense pressure, mostly from the crash in Chinese stocks and the overall deterioration in the world’s No. 2 economy, Australia’s No. 1 trading partner.
AUD/USD has reached a low of 0.7536, just 4 pips above the previous low of 0.7532 seen on April 2nd. Below this level, we are back to levels last seen in May 2009.
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