Aussie Drops Toward 90 U.S. Cents on China Slump; Krona Weakens Australia’s dollar fell to its lowest level in almost six months after data showed growth in Chinese industrial production missed estimates, sparking concern that the world’s second-largest economy will slump. The Aussie has dropped 3.5 percent this month and is 0.1 percent from breaching the 90 U.S. cent level. The Swedish krona declined versus the euro and dollar as the Social Democratic-led opposition looks poised to rule as a minority government after a surge in support for the anti-immigration Sweden Democrats set up the largest Nordic economy for a hung parliament. “China’s weak patch is extending a bit longer than expected as seen in the recent industrial production data,” said Imre Speizer, a markets strategist at Westpac Banking Corp. in Auckland. “That should weigh on the Aussie dollar, which will next target 89.95 cents.” read more : forex-tsd/financial-news-analytics/26338-forex-news-669.html#post702534
Posted on: Sun, 14 Sep 2014 23:22:47 +0000
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