While investors' attention is focused on events in Greece and China, there are more serious problems. One of them is a record decline of the Australian dollar. As it turned out, instability of the currency exchange rates may also become a cause for panic. Just in a few days the Australian dollar dropped below 75 US cents hitting a six-year low. This weakness points to the fact that investors expect the market volatility to expand. These expectations along with risk appetite are key factors for the aussie. In addition, traders were massively involved in trading with the USD/JPY pair. Currently, the Japanese yen is acting as a safe haven for a time of financial uncertainty. The slump of the Australian dollar below 75 US cents and the yen below the level of 122 can be connected with the results of the Greek referendum influencing the markets. The choice of Greek voters (most of whom answered "no" to the regime of austerity) could cause a large-scale selling out of securities. At the same time, according to experts, policy tightening by the US Federal Reserve System is expected to start sometime from September to the end of this year. All this guarantees that the US and German bonds' rates also will spike. If the situation remains unchanged, the Australian dollar and the yen will continue to fall.