The Australian dollar has softened further as global risk sentiment sours.

At noon (AEDT) on Monday, the currency was trading at US71.71c, down from US72.44c on Friday.

OANDA Australia and Asia Pacific senior trader Stephen Innes said continued oil price falls are sending commodity currencies like the Australian dollar into a tailspin.

The Fed is widely expected to hike rates for the first time in nearly a decade when it meets on Thursday (AEDT).

Source : Market Spectator