“Australia’s dollar fell to its weakest level this year and bond yields reached record lows as concern mounted that Greek leaders will be unable to form a coalition government, reducing appetite for riskier assets,” Bloomberg News reported Wednesday.
“Risk is going to be on the back foot while the Greek squabbles continue,” said Joseph Capurso, a strategist at Commonwealth Bank of Australia, in the article. “I don’t have a lot of optimism that these things will be resolved quickly. It’s pulling down many currencies like the Aussie, the kiwi and the Canadian dollar, which are more linked to global growth.”
CurrencyShares Australian Dollar Trust
