THE Australian dollar dropped below 103 US cents for the first time in three days amid falls on US stock markets and weaker commodity prices.
At 6.30am AEST the currency was trading at 102.77 US cents, down from 103.54 US cents at yesterday’s local close.
The Australian dollar lost more than three quarters of a US cent overnight as New York stockmarkets dropped by almost 1 per cent and gold and copper prices also fell.