Original article by William McInnes
The Australian Financial Review – Page: 33 : 10-Mar-20
The Australian dollar fell by 4.6 per cent to an intra-day low of $US0.6312 during a 20-minute period in local trading on 9 March. It was the currency’s lowest level since early March 2009, as growing concern about the coronavirus weighed on financial markets. Sean Callow of Westpac says the sell-off appears to have been driven by Japanese investors exiting their Australian dollar positions, with the ‘flash crash’ coinciding with a rally in the yen against the greenback. The Australian dollar rebounded to around $US0.6550 late in the local trading session.
WESTPAC BANKING CORPORATION – ASX WBC