Australian dollar is heading lower today, largely due to risk aversion. High beta currencies like the Aussie are at a disadvantage today as Forex traders seek safe haven with the US dollar. Concerns about global economic growth, and the situation in the eurozone, are weighing on the Australian dollar, along with other high beta currencies.

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US dollar is strengthening in Forex trading as concerns about the eurozone continue to weigh on world markets. Slightly disappointing data in the United States, along with worries that the debt crisis in Europe isn’t properly contained, are sending Forex traders looking for safe haven, and that is boosting the greenback.

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The Indian rupee slipped today as the signs that the global economic recovery is slowing hurt prospects for currencies of riskier emerging markets and caused the speculation that India’s economy may suffer as export demand would wane.(...)
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The Chinese yuan fell today, snapping its two-day rally, on the speculation that the slowdown of China’s economy may cause the nation’s policy makers to slow appreciation of the currency.(...)
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