Economics
Aussie Dollar Weakens as Commodities Fall on Outlook for Growth
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The Australian dollar fell versus the majority of its 16 most-traded peers as commodities declined after the International Monetary Fund lowered its estimate for global economic growth.
The Aussie weakened against the U.S. dollar for the first time in three days after the Washington-based IMF said the world economy will grow 3.5 percent this year, less than the 3.6 percent forecast in October. The fund cut Japan’s 2014 growth forecast by 0.4 percentage point to 0.7 percent. Australia’s consumer price index rose less than forecast last quarter. New Zealand’s dollar gained as a gauge of manufacturing rose.