Aussie Dollar Falls After Trade Balance, Retail Sales Reports

Australia’s dollar fell after the release of trade balance and retail sales data for May.

The Aussie slid 0.4 percent to 75.11 U.S. cents at 11:31 a.m. in Sydney from Monday.

The trade deficit was A$2.2 billion in May, compared with the A$1.7 billion shortfall median estimate in a Bloomberg survey of economists. Retail sales rose 0.2 percent, compared with an increase of 0.3 percent forecast in a separate Bloomberg poll.

Australia’s dollar also weakened amid speculation the central bank will stand pat at a policy meeting on Tuesday to assess the implications of an indecisive political election and ongoing Brexit fallout before resuming interest-rate cuts.

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