The Australian dollar lost value against all of its major counterparts during the Tuesday trade session as volatility barreled toward its largest close since the middle of this past July, according to Bloomberg.
The monetary unit of New Zealand also endured losses on Tuesday, one day after demonstrating its biggest gains in about two weeks. The Aussie's drop against the world's reserve currency checked in at 0.8 percent; against the Japanese yen, the Aussie fell 1.1 percent.
"Volatile is how I'd characterize it,'' senior market strategist Imre Speizer with Westpac NZ told The Australian on Tuesday. "We're not too far from where we closed. The notable move was that jump from the durable goods, and then it dribbled off after that.''
The Aussie's performance on Tuesday was correlated with weak economic data released by the U.S. and ongoing concerns about uprisings in Syria, how the government is handling them and the response of the international community, The Australian reports.
The Australian dollar monitored the performance of stocks on Wall Street after U.S. Secretary of State John Kerry said the U.S. demands accountability from Syria for the attack on its own citizens in a Damascus suburb.
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