Coal stocks have tumbled in Australia and the US, while a US stock market index that was up nearly 50 points in just two weeks is now down almost 25 points.
The latest data from the US Bureau of Labor Statistics (BLS) shows the dollar’s strength on Thursday plunged to an eight-month low of 97.75 cents US, the lowest level since February 2019.
That followed an increase of 5.5% on Wednesday to the lowest levels since March 2019.BLS data for October showed coal prices tumbled 1.9% to $US3.07 per tonne, and the dollar declined 0.9%.
The Australian dollar was down 1.3% against the greenback on Thursday.
The index is down almost 26% from its peak of $US4.20 on June 29, before the US Federal Reserve started raising interest rates.
The BLS data is expected to be revised on Thursday morning.
The US market index was up about 5.7% on Thursday, while the Russell 2000 index fell 4.3%.
The BBS index for October was up 4.1% and the Russell 1000 was up 2.4%.
The dollar was trading below 90 cents US for the first time since mid-September.
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