Aussie retreats due to disappointing data
ecPulse
2014-12-09 15:11PM UTC
The Australian dollar fell to fresh four-and-a-half year lows against its U.S. counterpart on Tuesday, after the release of disappointing Australian business confidence data.
The data showed that business confidence index fell in November, which supported the low Australian dollar against the US dollar. Meanwhile, the greenback remained broadly supported after the U.S. economy added 321,000 jobs in November on Friday.
The positive US data supported speculations that the Federal Reserve may resort to raising interest rates by the middle of 2015.
AUD/USD pair recorded its lowest level since June 2010 in late Asian trading at 0.8303.
The pair dropped trading at 10:02 GMT, around 0.8286 after a decline of 0.11%.
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