Nervous investors bale out of $A pg25 16 August

The $A was already under pressure when markets here opened yesterday after Wall Street stocks declined sharply and a US investment firm, Sentinel Management, said it wanted to stop its clients withdrawing cash to avoid force liquidation.

Investors are still exiting overweight positions in risky assets and in the currency markets, the large net long speculative positions being unwound are in the $A, kiwi, setrling and euro, " nabCapital currency strategist John kyriakopoulos said. A long position is a bet a currency will appreciate.

Unlucky tarders carrued away as follar loses 13 pc.