Australian dollar slides

dollar24The Australian dollar has fallen Friday, dropping to 70.92 US cents from 71.05 at 1630 AEDT on Thursday.

Yesterday, the local currency suffered a setback on when NAB’s mortgage rate hike added to the case for a cut in official rates, even as domestic jobs data showed a still solid labour market.

The Aussie dollar lapsed to 71.28 US cents, unwinding all of a data-inspired jump to 71.68.

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