Australian shares drop as Iran war enters third week
The RBA is expected to be the world's only central bank to raise rates this week. -AAP Image
The local sharemarket has fallen as the US-Israeli war with Iran dragged into its third week and hopes dimmed for a quick resolution.
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The benchmark S&P/ASX200 index finished Monday down 33.7 points, or 0.39 per cent, to 8,583.4, while the broader All Ordinaries dropped 45.7 points, or 0.52 per cent, to 8,793.4. Â
The Australian dollar was changing hands for 70.07 US cents, from 70.63 US cents at 5pm on Friday.
It comes as a number of central banks, including Australia's, prepare to make decisions on interest rates, with the RBA expected to again hike rates.
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