Aussie's steep fall a relief, but it's not enough to spark recovery

[SYDNEY] The Australian dollar suffered its biggest monthly drop in over a year in September and was on the verge of reaching four-year lows, but it will probably need to fall further and stay down before exporters can truly rejoice.

Indeed, a survey on Wednesday found that while businesses welcomed the correction in the level of the currency, they still faced tough conditions.

"It will take some time before competitiveness in domestic and export markets improves," said Innes Willox, chief executive of Australian Industry Group.