Australian dollar tipped to dive to 60 US cents on China economy, housing correction fears

The Australian dollar could dive to 60 US cents if China's economic slowdown deepens and local real estate prices continue to correct. 

The London-based Capital Economics believes a hit to Australia's economic growth will force the Reserve Bank to cut interest rates. 

ABC's Peter Ryan says tighter credit conditions from the banking Royal Commission will also risk weighing on the economy.

Source: Capital Economics