2014.11.0401:01:23UTC+00Australian dollar declines amid high retail trade data

The Australian dollar tumbled following it failed to gain any momentum in the light of sturdy retail spending figures.

On Tuesday, the Aussie traded at 86.75 US cents, down from Monday’s 87.38 US cents. Earlier, the currency slid to a one-month low of 86.46 US cents.

Retail spending climbed to 1.2% in September, the largest since February 2013.

“"Retail did come out on the strong side of expectations but following yesterday's disappointing building approvals data and the overnight price action it was the lower side of the (the Australian dollar's recent) range that was most at risk,” said Robert Rennie, Chief Currency Strategist at Westpac.

Meanwhile, in early October, the ABS admitted the problems in computing the employment figures recently.