SYDNEY -- Australia's currency sank to a decade-low against the dollar as its reliance on commodities exports to China turns into an Achilles' heel, with the ongoing trade war putting pressure on the world's second-largest economy.
The Australian dollar, which had softened 10% in 2018, began to crumble further Thursday after Apple downgraded its earnings forecast due to poor Chinese sales. It weakened past 68 cents at one point. It has since recovered to 71 cents per Australian dollar Monday, thanks to potential progress in trade talks between Washington and Beijing.
