The Australia dollar dropped below US83¢ for the first time in 4 ½ years, dipping by as much as US82.90¢ as the US economy mounts pressure on the local currency.

US job data showed that in the past month, 321,000 jobs were created, way above the forecast of 230,000. This has been the biggest monthly total for the United States since 2012.

Economists, including major financial players such as Goldman Sachs, Deutsche Bank and Westpac are now turning to the RBA to drop interest rates below the record low 2.5% to stimulate the local economy.

Read more about this on the Sydney Morning Herald website.