TH: Australian dollar at two-week low against greenback, stockmarket flat
The currency fell broadly in Asia trade as Europe's debt problems continued a move by investors into safe-haven assets.
Even with the US dollar and other safe-haven assets up since Friday, Australian bonds also fell. Traders said the moves reflected a broader unwinding of trades, when buying equities and buying for yield dominated the action.
At 0520 GMT, the Australian dollar traded at $US0.9849, down from $US0.9937 late Friday and at its lowest level in two weeks. Against the Japanese yen, the currency traded at Y81.43, from Y81.89.
In equities, the sharemarket closed after weakness among materials stocks outweighed strength in the banking sector.
The benchmark S&P/ASX 200 index was down 4.7 points, or 0.1 per cent, to 4688 points, while the broader All Ordinaries index backtracked 5.5 points (0.12 per cent) to 4773.3 points.
