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Australian dollar falls

Xinhua, March 11, 2016 Adjust font size:

The Australian dollar has fallen after rising for more than a week as the euro surged amid an announcement from the European Central Bank (ECB).

At 0700 local time (AEDT) Friday, the Australian dollar was trading at 74.52 U.S. cents, down from 74.79 U.S. cents on Thursday. By 0935 local time (AEDT), the Australian dollar had fallen slightly to 74.51 U.S. cents.

A sensational u-turn in markets occurred overnight, related to an announcement from the ECB, Westpac economists said in a note on Friday.

The Australian dollar slipped overall, from 74.80 U.S. cents to 74.27 U.S. cents after briefly spiking to 75.12 U.S. cents following a speech from ECB president Mario Draghi, Westpac economists added.

There are no local risk events for the currency today, however eurozone consumer price index data for February is due out this evening, as well as U.S. terms of trade data. Endit