Aussie Drops to Six-Year Low as Retail Sales Add to Iron Slide

Australia’s dollar dropped to a six-year low on signs of sluggish consumer spending and after iron ore prices slid the most in two months.

The Aussie fell for a third day against the U.S. dollar, the longest streak in a month, as data showed retail sales rose 0.3 percent in May from the previous month, compared with the median economist estimate for 0.5 percent growth. It’s down versus 12 of its 16 major peers this week.