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The Australian dollar tumbled as an escalating political tension in Ukraine sapped the market’s appetite for riskier assets.
On Wednesday, the Aussie traded at 92.95 US cents, down Tuesday’s 93.34 US cents.
Russia increased its military presence on the Ukraine border, implying a possible mounted conflict.
"Russian President Vladimir Putin said there is an ongoing and increasing humanitarian crisis in east Ukraine, which is the kind of language you'd expect just before they roll in the tanks,” said Steven Dooley, Currency Strategist at Western Union Business Solutions.
Investors look forward to the Australian employment data for July due Thursday.
Meanwhile, the Australian bond market weakened. The three-year bond traded at 97.290, to 2.710%. The 10-year bond was at 96.510, to 3.490%.
