The Australian dollar fell today on concerns about the debt situation in the European Union and on the speculation that China will take additional steps to prevent its economy from overheating.
Economists predict the report, released on July 13, will show that China’s gross domestic product grew 9.3 percent in the second quarter of 2011, down from 9.7 percent in the first quarter. The report last week showed that China’s inflation increased by 6.4 percent in June, compared to the median estimate of 6.2 percent.
The European lawmakers remain divided on their opinion about a best method to save Greece, while problems in other peripheral economies still persist. The Standard and Poorâs 500 Index dropped as much as 1.7 percent. The Thomson Reuters/Jefferies CRB Index slipped 1 percent.
AUD/USD dropped from 1.0708 to 1.0661 today as of 22:06 GMT after reaching the intraday low of 1.0630. AUD/JPY slid from 86.25 to 85.59. AUD/CHF dropped from 0.8974 to 0.8905.
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