Aussie Dollar

Prime Minister Kevin Rudd has dismissed fears the government's resource super-profits tax was linked to the Australian dollar suffering its biggest fall since the global financial crisis.

The dollar has fallen more then 10 cents in a month amid fears about another financial crisis in Europe.

Mr Rudd labelled the opposition as reckless for suggesting the falls would increase Australia's sovereign risk.

'Everybody around the world knows there is a genuine crisis of confidence in Europe,' he told reporters on Friday, while launching a $37 million Australian Future Fibres Research and Innovation Centre at Geelong.

'As a consequence there are significant changes in currency markets and equities markets right across the world.

'You look at the adjustment that occurred in the last 24 hours in the Australian equities index in general.

'In fact, the adjustment in the minerals index was less than that which occurred in the overall stock market index, and I think it is important to bear that in mind.'