The Australian dollar skidded lower on Thursday as a fresh wave of risk aversion swept markets amid concerns the economic impact of the coronavirus would swamp any possible policy response.
The Aussie slipped 0.4% on the news to $0.6460, leaving it down 2.7% for the week so far and threatening chart support around $0.6435. The New Zealand dollar eased 0.2% to $0.6253, leaving it down 1.6% for the week so far. A rush from risk saw shares tumble across Asia and the Aussie shed 1.5% against the safe-haven Japanese yen to 66.80. Three-year bond futures edged up 1.5 ticks on Thursday to 99.615, implying an yield of 0.38%.
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