The Australian and New Zealand dollars fell on Thursday in choppy trade, with investors leery of buying more risky assets after data showed China's economy was not growing as fast as some would like it to. The Australian dollar dropped to $0.8766, well off a two-month high of $0.8871 hit Wednesday. It had initially spiked as high as $0.8845 minutes after the Chinese data on the back of knee-jerk buying.
The NZ dollar also took a hit and slipped to $0.7186, well under a two-month high of $0.7254 hit offshore on Wednesday.