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Aussie edges down further amid downbeat GDP figures

On Wednesday, the Australian dollar sagged further during Asia trade as GDP data came in below hopes as real unit labor costs dropped and indicated a lack of wage pressures.

The currency pair AUD/USD traded at 0.7676, tumbling 0.16%, while USD/JPY traded at 102.03, soaring 0.01%.

In Australia, second quarter GDP edged up 0.5% quarter-on-quarter, missing the 0.6% surge observed for a 3.3% year-on-year, which is below the 3.4% ascend expected. Previously, the AIG construction index for August fell into contraction at 46.6 from 51.6.

The U.S. dollar index, estimating the greenback’s strength six key currencies, ascended 0.04% to 94.84.

Overnight, the greenback extended losses against the other key currencies on Tuesday, after data demonstrating that American service sector activity soared at a slower pace than expected in August further dampened hopes for an American rate lift before the end of 2016.


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