The Australian dollar lost further ground against its major counterparts following the Australian Bureau of Statistics reported that retail sales in Australia dropped 2.0 percent in February compared to the previous month. As of 8:30 pm ET, the aussie was worth 0.6869 against the US dollar, 67.81 against the yen and 1.9285 per euro.

Retail sales came in at A$18.87 billion, down from A$19.26 in January but up from A$18.12 billion a year earlier. This marked the largest monthly decline since July 2000. Analysts had expected a decline of 0.3 percent on month following the revised 0.5 percent increase in January.

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