AUD/USD Drops to 0.90 after China Data

The Australian dollar came in the cross hairs of sellers first thing on Monday, sliding to a fresh six-month low after a set of disappointing Chinese data weighed on already soft demand.

In contrast, the dollar was flat against the yen, near a six-year peak of 107.39 set on Friday. The euro was also steady at $1.2961, having drifted up from a 14-month trough of $1.2859 last week.

“China data was the catalyst of the move lower. The Aussie has come a long way and is now feeling oversold,” said a trader at a European bank in Singapore, tipping the currency to consolidate in the short-term.  The Australian dollar fell towards 90 U.S. cents, from around $0.9040 late in New York on Friday. It last traded at $0.9015.


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