Australian dollar falls from recent highs against major currencies

PERTH: The Australian dollar retreated from recent highs against the other major currencies in the Asian session on Wednesday.

The Australian dollar fell to a 6-day low of 1.4788 against the euro, from an early high of 1.4723. At yesterday’s close, the aussie was trading at 1.4734 against the euro.

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Against the US, the New Zealand and the Canadian dollars, the aussie dropped to 0.7391, 1.1161 and 0.9579 from early highs of 0.7438, 1.1216 and 0.9624, respectively. The aussie closed yesterday’s deals at 0.7418 against the greenback, 1.1193 against the kiwi and 0.9603 against the loonie.

Pulling away from an early high of 92.00 against the yen, the aussie edged down to 91.41. The pair was quoted at 91.90 at yesterday’s close.

If the aussie extends its downtrend, it is likely to find support around 1.51 against the euro, 0.73 against the greenback, 1.06 against the kiwi, 0.94 against the loonie and 89.00 against the yen.