Slow Economic Growth Causes Aussie To Slip – 5 March, 2019

The dollar inched higher with surprising results from U.S. services industries, while the Australian dollar slipped on results of slower than expected economic growth. The dollar index gained for a fifth straight session, reaching a two week high of 97.008 before settling down at 96.93 for the day. The Australian dollar dipped 0.7 percent to $0.7035, with economic growth coming in below expectations at 0.2 percent in the fourth quarter. The Australian currency also fell 0.8 percent against the yen. The euro dipped to $1.1298, just above a two week low against the dollar, while the dollar fell against the yen to 111.78 yen.