17.01.202404:34:00UTC+00Australian Dollar Slides Against Majors

The Australian dollar weakened against other major currencies in the Asian session on Wednesday.

The Australian dollar fell to more than a 1-1/2-month low of 1.6559 against the euro, from yesterday's closing value of 1.6511.

Against the U.S. and the Canadian dollars, the aussie dropped to a 5-week low of 0.6561 and a 2-month low of 0.8861 from yesterday's closing quotes of 0.6583 and 0.8882, respectively.

The aussie slipped to 96.74 against the yen, from a recent high of 97.14.

Against the NZ dollar, the aussie edged down to 1.0709 from Tuesday's closing value of 1.0721.

If the aussie extends its downtrend, it is likely to find support around 1.68 against the euro, 0.63 against the greenback, 0.86 against the loonie, 94.00 against the yen and 1.06 against the kiwi.