26.11.201404:18:36UTC+00Australian dollar close to 4-year low as Lowe says it may weaken

The Australian dollar traded 0.3% from a four-year trough as Reserve Bank of Australia Deputy Governor Philip Lowe said the currency would possible decline along with commodity export prices.

The Aussie traded at 85.41 US cents as of 2:46 p.m. in Tokyo from yesterday’s 85.30 US cents, when it hit 85.14 US cents, the lowest since July 2010.

“Weaker commodity prices and the possibility that the interest-rate differential could narrow between the U.S. and Australia, with the Fed looking to raise interest rates next year, have been pointing to a weaker Australian dollar for some time,” said Janu Chan, Economist at St. George Bank Ltd.