Aussie Dollar Decreases on Slowing Private-Business Investment
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The Australian dollar dropped against its U.S. counterpart after business investment slowed from the previous quarter amid manufacturing weakness.
The Aussie fell versus all of its 16 most-traded peers as capital spending gained 2.8 percent in third quarter, down from 3.4 percent in the second quarter, the Bureau of Statistics said in Sydney yesterday. That compares with the median forecast for a 2 percent gain in a Bloomberg News survey of 20 economists. The New Zealand dollar decreased against most of its major counterparts even as equities and commodities rose.