Aussie falls as iron ore hits 2 ½ year low

The Australian currency dropped notably on Tuesday falling against its U.S. counterpart after a government report showed that prices of the country's largest export earner, iron ore, fell significantly. The so-called Aussie slipped as much as 0.8% and was last traded at 92.60 per U.S. Dollar as the iron ore prices fell to $98.50 a ton, the least in over two years.