The Australian dollar fell today after economic data from Australia and China disappointed market participants. As of now, the currency almost erased its drop against the US dollar and trimmed losses versus the Japanese yen.
The Westpac Melbourne Institute Index of Consumer Sentiment fell by 3.2 percent in April after dropping 1.2 in the previous month. China’s economic growth slowed to 7 percent in the first quarter of 2015 from 7.3 percent during the preceding three months. The Aussie dropped due to the unfavorable data but bounced currently as weak US economic indicators allowed the Australian currency to regain strength at the expense of the US dollar.
AUD/USD traded at 0.7615 as of 14:48 GMT today after falling from 0.7623 to 0.7571 earlier. AUD/JPY was down from 91.02 to 90.89 after touching the daily low of 90.47.
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