The Australian dollar lost about a third of a US cent on Thursday after October retail sales unexpectedly fell, denting hopes for a strong economic revival in the fourth quarter. The Australian dollar was soft at $0.9637, after falling as far as $0.9621. It had traded at $0.9666 before the data. Support is at the 2-1/2-month low of $0.9536 hit on Wednesday.
Data showed retail sales in October dropped 1.1 percent, the biggest fall in 15 months. That was far weaker than forecasts for a 0.3 percent rise, with some analysts saying the fall was in part due to higher interest rates. The New Zealand dollar fared better, holding its ground at $0.7510 to be steady from the local open, and about half a cent above late Wednesday levels. The kiwi was seen with a strong base at Tuesday's two-month low of $0.7398, while resistance started from $0.7540. The retreat in the Aussie pulled it down against the kiwi to NZ$1.2826, from NZ$1.2901 seen here late Wednesday.
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