Aussie dollar set to drop further as US-China trade war continues

The Aussie dollar has dropped to its lowest level since the Global Financial Crisis spelling bad news for anyone heading overseas soon.

And the news doesn’t get any better with experts tipping it will fall even further.

The dollar fell to 67.96 US Cents on Friday before tipping back over 68 US Cents overnight.


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The last time it was below 68 cents was at the height of the GFC in early 2009.

AMP Chief Economist Shane Oliver says the trade war between the US and China is largely to blame.

“Of course Australia is not directly affected by that but it can be expected the trade war could affect economic growth in the US and China,” Mr Oliver said.

“That could mean less demand for our exports which in turn plays on the value of the Australian dollar.”

Experts say with no end in sight to the trade war, that will put even more downward pressure on the Aussie dollar.

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