Australian dollar falls after business investment slid

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The Australian dollar slipped after data showed business investment fell more than expected in the final three months of 2016.

A short while ago the currency bought 76.77 US cents after falling as low as 76.73. It was at 76.92 before the data and ended the previous session at 77.01 US cents.

Private new capital expenditure (CAPEX) fell by 2.1% during the December quarter, well below the 0.5% contraction that had been expected by economists. It’s not expected to get much better in the next financial year.

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