In early Wednesday trading, Australian shares have suffered losses after the decline of Aussie currency.

That combined with a decline in commodity prices has had a negative impact on shares linked to resources.
By noon, the Australian dollar was equivalent to 91.6 U.S. cents.

Bill Chatterton, senior private client advisor at RBS Morgans, told AAP, "Overseas traders were selling out because a falling Australian dollar was reducing the value of their holdings." He added, "You don't have to go too far back, we had the dollar sitting at $US1.05 at the beginning of May, so the trend is drifting down and in our expectations will keep doing that."

Shares are riding out a roller coaster at this point and none of the industries have been immune to the volatility.
At 1:54 pm, the ASX 200 stands at 4738.1, 95.1 points below the opening bell.

The biggest gainers include Billabong International, up nearly 10 per cent, while Panaust and Boart Longyear experience a losing streak of 7.52% and 13.07%, respectively.

As far as rate cuts go, it is unlikely to that rates will come down in the near future, said analysts. There is also no need for a financial stimulus package as Australian is in a 22-year run without a recession.

Meanwhile, in London the, FTSE is down 3.84 points, while the NASDAQ is 1.09 points lower. The Dow Jones Industrial Average tags below 42 points with Asia’s Hang Seng taking a hit at 144 points below its starting point, reports News.com.au.