Aussie drops against Greenback amid weak spending data

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Source: WBP Online
The Australian Dollar depreciated versus its US peer on Thursday, as an abrupt slide in the country's retail sales brought speculations about the possible interest rate cut by the RBA back on the table. Official data showed that retail sales plummeted 0.1% in July, following a jump to revised 0.6% in the preceding month, dragging the AUD/USD currency pair down 0.41% to $0.7010.
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