Aussie Whacked Lower Again on Economy Concerns
Wednesday, 13 March 2019 16:40 WIB | CURRENCIES |AussieDolar Australia,

The Australian dollar skidded lower on Wednesday after a local consumer confidence gauge triggered fresh concerns about a slowing economy.

Sterling was the other big mover in currency markets, adding half a percent on hopes UK lawmakers will vote down a no-deal Brexit tonight.

Foreign exchange markets elsewhere were mostly quiet in early London trading, with investors cautious as the risk-off mood in Asia spread to Europe.

A measure of Australian consumer confidence slumped to its lowest in over a year in March, adding to recent signs of weakness in the economy.

The Aussie has been sensitive to signs of a loss of economic momentum, particularly after the Reserve Bank of Australia's upbeat outlook last week failed to dispel bets it would have to lower rates eventually.

The Aussie fell half a percent to as low as $0.70495, although the currency was above 2-month lows of $0.7003 hit last week.

Source : Reuters

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