The Australian dollar, nicknamed Aussie, declined against the American dollar after the Australian economy reported that the building approvals unexpectedly declined in June for a third month in a row, damping the demand on Australian dollar.

On the other hand, the AUD/USD pair trades around 1.0975 after recorded a low of 1.0973, while the pair continues its downside movement for the fifth straight day as the fears that dominate the market.