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The Australian dollar touched a new seven-month low following a stronger US economic growth data.
On Monday, the Aussie traded at 87.54 US cents, down from Friday’s 87.66 US cents. The currency declined 97.48 US cents late Friday, its lowest since February.
The US economy accelerated at an annual rate of 4.6% in 2nd quarter.
“The US dollar appeared to gain the upper hand after the release of the most recent reading of second quarter US gross domestic product,” said Kymberly Martin, Strategist at Bank of New Zealand.
