The Australian dollar fell today, sinking to the lowest level since July 2009 against its US counterpart and reaching the lowest since March 17, 2014, versus the Japanese yen. The currency declined due to Australia’s economic data that was not particularly good.
Australia’s import prices grew 0.9 percent in the December quarter of the last year from the previous three months. While the reading was not as bad as the preceding quarter’s drop by 0.8 percent, it was far below the predicted growth by 1.5 percent. The Aussie dipped after the report and also felt pressure from yesterday’s data that showed slowing inflation.
AUD/USD dipped from 0.7886 to 0.7784 as of 12:12 GMT today. AUD/JPY edged down from 92.69 to 91.92, touching the low of 91.65 intraday.
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