The Australian dollar has fallen below 70 US cents as the local and Asian share markets slide on concerns about China’s economy.

At 1700 AEDT on Monday, the local unit was trading at 69.66 US cents, down from 70.51 cents on Friday.

It hit an intraday low of 69.27 US cents, its weakest level since September 7, 2015.

At 1700 AEDT, the Australian dollar was at 81.69 Japanese yen, down from Friday’s close of 83.42 yen, and at 63.80 euro cents, down from 64.82 euro cents.

Meanwhile, the Australian bond market has finished firmer as investors flee to safer-haven assets.

At 1630 AEDT on Monday, the March 2016 10-year bond futures contract was trading at 97.245 (implying a yield of 2.755 per cent), up from 97.215 (2.785 per cent) on Friday.

The March 2016 three-year bond futures contract was at 98.030 (1.970 per cent), up from 97.990 (2.010 per cent).


Source : Businessspectator