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Aussie dollar not immune to swine flu

Aussie dollar not immune to swine flu article image

Global panic about swine flu has seen the Australian dollar drop a cent against the US dollar, closing at US70c this morning. During periods of anxiety, investors reduce their holdings of higher risk assets such as minor currencies. Spokesperson from online currency agency OzForex Darren Richardson, said investors showed caution as incidents of the swine flu increased. He reports that the US dollar surged when it was revealed that the swine flu might slow economic growth: "That caused a little downturn in equities and caused a bit of risk aversion to enter the market, with the Aussie dollar taking a slight fall." United Nations head Ban Ki-Moon stated that the swine flu could have global implications. "We are concerned that this virus could cause a new influenza pandemic. It could be mild in its effect or potentially be severe," he said.

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