The monetary unit of Australia remained low against the world's reserve currency on Tuesday as a report was forecast to note consumer confidence in France is dropping as the sovereign debt crisis lingers in the euro zone, Bloomberg reports.
The dollars of Australia and New Zealand were not too demanded in the aftermath of an ally with German Chancellor Angela Merkel stating Spain should decide if it will solicit a bailout rather than delaying the inevitable. But the South Pacific dollars climbed immediately after economic data indicated China's economy increased.
"It looks as though the unstable situation in Europe could last for some time," analyst Kumiko Gervaise with Gaitame.com Research Institute Ltd. in Tokyo told Bloomberg. "The Australian dollar is looking softer amid uncertainty over whether Spain will ask for aid."
The past 30 days have seen the Australian currency fall about 1.5 percent in value against the world's reserve currency, emerging as the second-worst performing of 10 currencies tracked by Bloomberg.
Traders and investors are increasingly watching circumstances surrounding next week's Reserve Bank of Australia policy makers meeting, The Wall Street Journal reports.
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