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AUD/USD Dips as Aussie Buildings Approvals Undershoot

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General News
Monday, May 5, 2014
        0155 GMT [Dow Jones] AUD/USD hit an intraday low of 0.9266 after weak domestic building approvals data cast doubt on the strength of economic recovery. Building approvals fell 3.5% in March versus an expected 2% rise. This is the fifth monthly fall in the past half year and suggests housing construction continues to languish despite record-low interest rates. But at the same time, policy makers are worried about house prices running too hot, leading to risky investment that could derail a fragile economic recovery. AUD/USD last 0.9276.(david.rogers@wsj.com; Twitter: @DRWSJ)
        (END) Dow Jones Newswires

        May 04, 2014 21:55 ET (01:55 GMT)

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