The Australian dollar has fallen to its lowest level in over four months, dragged down by lower US stocks and metals prices, as well as higher US bond yields, which are supporting a higher US dollar.

At 0635 AEST on Tuesday, the local currency was worth 76.06 US cents, down from 76.71 US cents on Monday.

Earlier in the morning, the Australian dollar fell as low as 76.00 US cents, its lowest level since December 13.

One Australian dollar buys 82.69 Japanese yen, from 82.71 yen and 62.30 euro cents, from 62.49 euro cents.

AAP

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