The Australian dollar fell against the euro and erased its earlier gains versus the Japanese yen on concerns about economic slowdown in China. The currency gained versus the US dollar after Federal Reserve Chairman Ben Bernanke spoke, spurring speculations about quantitative easing from the Fed. According to the government report, China’s Purchasing Managers’ Index fell from 50.1 in July to 49.2 in August, being even worse that the pessimistic forecast … “China’s Slowdown Makes Aussie Less Appealing”
