The Australian dollar fell under pressure on Wednesday after news about debt woes in Greece and Dubai gave investors a reason to sell riskier currencies. The Aussie fell as low as $0.9016, with some dealers saying the selling pressure that started in New York overnight was carried over to provide trading momentum.
That left the Aussie on the defensive, though it managed to bounce back slightly after local firms waded in to buy it around $0.9010-30, traders said. "Losses will be limited as buyers emerge below the $0.9000 level," said David Scutt, a trader at Arab Bank Australia. By early evening, the Aussie was traded at $0.9062, down from $0.9135 seen here late Tuesday.