The Australian dollar tumbled to the lowest level in a month and a half against its US peer and sank versus the euro today as economic news from the South Pacific country was much worse than the market has counted on.
Australian capital expenditure shrank by 4.4 percent in the first quarter of this year after falling 1.7 percent during the previous three months. The actual decrease was almost two times bigger than the forecast 2.3 percent drop. As a result, the Aussie fell against the greenback, and it was the ninth daily drop in the last 11 trading sessions.
AUD/USD dipped from 0.7729 to 0.7639 as of 13:11 GMT today, trading near the lowest level since April 15. EUR/AUD soared from 1.4098 to 1.4251.
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