The Australian dollar fell to its lowest in two weeks on Monday as dour economic data at home added to a fresh bout of risk aversion which kept investors away from higher-yielding currencies. A private sector survey showing a steep drop in job advertisements in December pointed to a weakening labour market and a growing risk of recession.
Official employment figures are out on Thursday and analysts expect the jobless rate to rise to 4.5 percent in December from 4.4 percent as more companies slash costs amid a sharp slowdown. The Aussie was at $0.6907, compared to $0.7038 late in New York on Friday. It fell as far as $0.6895, its lowest since December 31, during the session and analysts expect it to stay on the defensive as risk appetite ebbs on an increasingly grim global economic outlook.