The Australian dollar weakened against its major counterparts during Friday's early Asian trading. Against the yen, the Aussie dropped from a 3-day high.

The Australian dollar declined to 0.6996 against the US dollar and 1.9383 against the euro during Friday's early Asian trading, compared to Thursday's closing values of 0.7018 and 1.9286, respectively. If the Australian currency slides further, 0.690 is seen as the next likely target against the greenback and 1.958 level against the euro.

French Q4 GDP, Italian industrial orders and euro-zone January industrial new orders are scheduled for the upcoming session from the euro-area.

Meanwhile across the Atlantic, US personal consumption expenditure report and University of Michigan consumer confidence survey are due out in the New York session.

Against the Canadian dollar, the Australian dollar hit as low as 0.8597, with next downside target level seen around 0.852. The pair was quoted 0.8637 at yesterday's North American session close.

The Australian dollar pulled back against the Japanese yen after rising to a 3-day high of 69.48 during Friday's early Asian trading. The Aussie dropped to 68.85 by about 10:30 pm ET, compared to 69.29 hit late Thursday in New York. The next downside target for the pair is seen around the 65.9 level.

A government report said that consumer prices in Japan posted little or no change for the year to February. The reported said that its core consumer price index was unchanged in February from one year earlier, while the overall CPI was down 0.1 percent on year.

The data showed overall inflation was down 0.3 percent compared to one month earlier.

Another report said that retail sales in Japan plummeted by 5.8 percent in February when compared to a year earlier. The decline was the sharpest in 7 years and the 5th straight month of lower retail sales.

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