The Aussie dollar dives on US Fed moves - big big falls here

The Australian dollar has plunged after the US central bank flagged an end to one of the central planks of its wide-ranging support for the recovering US economy.The local currency was trading at 95.5 US cents prior to remarks by Federal Reserve chairman Ben Bernanke, but lost more than 2.5 US cents to 92.90 US cents, its lowest point since early October 2010. It was recently buying 93.02 US cents.The dramatic losses continues a major sell-off in the Australian currency which began in early May when the dollar was trading above 103 US cents. Aussie dollar dives on US Fed moves | theage.com.au