Aussie shares fall as US dollar surges, oil retreats

The Australian bourse has slipped, with a sell-off in precious metals, oil and other commodities dragging down resource companies as the US dollar surges and more ships pass through the Strait of Hormuz.

The benchmark S&P/ASX200 index on Thursday finished 59.7 points lower at 8,748.7, a drop of 0.68 per cent, while the broader All Ordinaries fell 61 points, or 0.68 per cent, to 8,951.6.

The Australian dollar dropped to its lowest level since late April against its US counterpart, trading for 68.91 US cents, from 69.06 US cents at 5pm on Wednesday.