The Australian dollar went down today as economic data from both Australia and its biggest trading partner, China, was unfavorable to the currency. While the Aussie managed to gain on the euro, it declined versus the US dollar and the Japanese yen.
Australian home loans increased 1.2 percent in February from the previous month. While not a bad reading but itself, it was more than two times below the forecast value of 3 percent. Coupled with the not-so-good news from China, the disappointing report made the trading environment negative for the Australian currency.
AUD/USD edged down from 0.7689 to 0.7673 and AUD/JPY declined from 92.70 to 92.23 as of 16:47 GMT today.
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