And the Australian dollar is worth around 89 US cents this morning. It'll also buy you just over 58 British pence and 113 New Zealand.

 

Analysts say the Western Australian premier needs to face up to the likely prospect that natural gas from the Browse Basin won't be processed onshore.

 

Oil and gas company Woodside is considering the use of floating technology after it dumped plans for a processing hub at James Price Point, north of Broome. Yesterday, the federal resources minister approved changes to commonwealth retention leases, allowing the joint venture partners to move the project offshore.

 

Spain's deep unemployment problem has eased a little, with the country's jobless numbers falling for a fifth straight month in July. The government attributes the positive trend to labour market reforms carried out in 2012. Spanish unemployment has soared to record levels since a property bubble burst in 2008. It is expected to remain relatively high for years to come, as the country's economy continues to struggle back from recession.