Aussie dollar dips after weak retail sales

The Australian dollar fell to a session low on Monday after a weaker-than-anticipated retail sales reading, adding to the chances of an interest rate cut this week. The Aussie dipped to US$1.0404, from US$1.0425 with interbank futures now factoring a 76 per cent chance of a quarter point easing to 3.0 per cent on Tuesday when the central bank holds its monthly policy meeting.

via Business feed http://www.scmp.com/business/money/market-snapshot/article/1096320/aussie-dollar-dips-after-weak-retail-sales