AUD/USD down to 0.9375 amid China Slowdown

Australia’s dollar fell against all but one of its 31 major peers amid concern sustained economic growth may be imperiled by a cooling housing market in China, its biggest trade partner.

A gauge of the dollar closed near a four-week high before consumer prices are forecast to climb for a second month above the Federal Reserve target. New Zealand’s currency advanced the most in more than a week amid bets the nation’s central bank will raise borrowing costs this week. Russia’s ruble fell against all major peers as international pressure mounted on President Vladimir Putin over the downing of a Malaysian airliner in Ukraine last week. Stocks dropped globally.

“We’re seeing some interest to sell Aussie,” Vassili Serebriakov, a New York-based foreign-exchange strategist at BNP Paribas SA, said in a phone interview. “You have a combination of somewhat higher risk aversion driven by geopolitics, weak equity markets.”

Bloomberg

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