The Aussie dove for the first time in four days against the greenback, pulling back from marking its top gains in nearly one month. Also tugging down the South Pacific currency was economic data about China, its top partner for commerce, noting the total value of trade dropped for the first time in five months.
"It's notable that speculators continue to punish the Aussie dollar even though there seems to be no fresh reason to do so," Senior Currency Strategist Sean Callow with Westpac Banking Corp. in Sydney told Bloomberg on Tuesday. "It provides us a reminder that 90 U.S. cents look as though it is hard work near term. On the downside, it's fair game anywhere to about 88.50."
The Australian dollar dropped about 0.6 percent against the greenback on Tuesday after having marked its top value since December 12 this past Friday.
Dow Jones reports the U.S. dollar also gained in value against other monetary units in Asia.
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