The Australian Financial Review --- Page: 24 : 4 December 2007 Original article by Katja Buhrer
LexisNexis Summary
The Australian dollar lost ground against its US counterpart after news that the US Federal Reserve is likely to lower official interest rates. The local currency closed at $US0.8803 on 3 December 2007. The decline in the $A has also been attributed to the release of weak economic data. The Australian trade deficit reached $A3bn in October 2007, while corporate profits dropped by 2.1 per cent in the September 2007 quarter.
