THE Australian dollar closed below US80c for the first time in more than a year yesterday after a surprise drop in the unemployment rate failed to allay fears of an economic slowdown.

More and more people are trading in global currencies, writes Helena Keers.

WITH the slightest hint of rising interest rates, the Australian dollar has notched a fresh 24-year high, sprinting to US96.17? last night.

A CUT of a quarter point in the benchmark US interest rate did little to help market sentiment, in part because rates were already at a low 2.25%, down from 5.25% just eight months ago.

THE norms of market behaviour were turned inside out as investors spurned US interest rate cuts and sent the Australian dollar spinning - despite stable commodity prices and favourable interest rate differentials.