Australia's NAB index of business conditions deteriorated to their worst level since May 2009 in...

|By:, SA News Editor

Australia's NAB index of business conditions deteriorated to their worst level since May 2009 in October, the gauge sliding 2 points to -5. A string of rate cuts is having little positive effect on businesses stung by a strong currency hitting exports and also encouraging shoppers to look overseas, says the NAB's Alan Oster. The teflon aussie (FXA) glides through the news, flat at $1.0423.