Aussie Drops From Near 6-Month High on Europe Concern
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The Australian dollar declined from near its strongest level in almost six months as concern European leaders are struggling to find agreement on debt-crisis solutions curbed demand for higher-yielding assets.
The so-called Aussie slid versus most of its 16 major counterparts before Spanish Prime Minister Mariano Rajoy travels to Rome for talks with Italian Prime Minister Mario Monti this week. Australia’s currency and its New Zealand counterpart fell against the yen amid escalating tensions between Japan and China, Asia’s biggest economies, over the ownership of disputed islands.