Plunging Aussie dollar could still have further to fall

News Snapshot:

The Aussie dollar may have further to fall economists have warned, as the country’s slowing economy and a deteriorating outlook in China weighs heavily on markets. On Thursday the value of the Australian dollar (AUD) sank to US 63.63 cents – the lowest level in nine months – after fears of slowing economic growth intensified when fresh jobs data showed the unemployment rate had jumped to 3.7 per cent. The data release came amid renewed concerns that China, the world’s second largest economy and Australia’s largest trading partner, is experiencing a further fall in economic growth, with Commonwealth Bank economists...