Aussie Slips on Concern for China’s Growth

The Australian dollar extended its decline today as the speculation, that the Chinese economic expansion slows, curbed the appeal of the higher-yielding currencies.

China’s gross domestic product grew 10.5 percent in the last quarter, compared to 11.9 percent in the previous three months. China’s Shanghai Composite Index slipped 1.6 percent and the MSCI Asia Pacific Index of shares declined 0.6 percent.

AUD/USD traded at 0.8748 as of 10:04 GMT today after opening at 0.8758.

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