The Australian dollar was the main mover on major currency markets on Tuesday, falling more than half a percent on the back of a slide in prices of iron ore, one of the country’s biggest exports.
Other majors were back in tight ranges, although some players said the euro was again looking shaky after two weeks of hints of more monetary easing by the European Central Bank which have shaken bets the single currency would top $1.40.
The Aussie has recovered solidly from lows reached in late January but worries over the pace of growth in China continue to weigh broadly on its outlook and Reserve Bank deputy governor Guy Debelle said potentially slower capital inflows to Australia pointed to more weakness.
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