The Australian dollar slumped on Friday against the world's reserve currency after marking five-straight days of advances against its rival monetary unit, according to Bloomberg.
The central bank of the South Pacific nation is slated to convene meetings next week and one issue of note is discussion about interest rates, which presently stand at 2.5 percent.
"We expect the AUD depreciation path to be slightly more pronounced than previously thought," states a Friday client note authored by head of foreign-exchange and rates strategy Richard Grace with CBA in Sydney, according to Bloomberg. "It is conceivable the AUD trades sub-0.80 at some point in 2014, particularly if Australia's economic transition falters or emerging market fears escalate."
The Aussie fell roughly 0.3 percent against the U.S. dollar on Friday after pushing ahead 0.6 percent on during the Thursday trade session. Its advance this week is roughly 1 percent. The currency fell about 0.5 percent against the Japanese yen and it held on to Thursday's advance of 1.2 percent against the New Zealand dollar.
An economic report noting Chinese manufacturing was falling also tugged down the value of the Aussie, according to News.com.au.
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