Flash: Aussie under siege – Investec

FXstreet.com (Barcelona) - With most of the action centering around the US and Japan the economic situation in Australia seems to have gone relatively unnoticed.

According to Lee McDarby, Corporate Treasury at Investec, “There was a further raft of negative data releases in the overnight session mainly related to construction and housing. This weighed further on the Aussie against its counterparts and more pressure was applied with the news that the IMF has lowered the growth forecast for China, one of Australia’s key trading allies.”