SYDNEY, March 25 (Xinhua) -- The Australian dollar has continued to slide against the greenback on Monday, with weak economic data from across the globe sparking fears of a slowdown in growth forecasts.
At the Asian market open 07:00 (AEDT), the local unit was trading at 70.82 U.S. cents, down from 71.10 U.S. cents at the same time on Friday.
"Very soft European activity indicators on Friday, particularly from Germany, sparked concerns that the current global growth slowdown could be more than just a passing phase," National Australia Bank Senior FX Strategist Rodrio Catril told investors in a morning note.
"It all began in Europe with the Flash PMI releases for March. The German Manufacturing PMI fell to 44.7, its lowest level in six years, while the Euro-wide index fell by more than expected to 47.6." At 09:00 (AEDT), the Australian dollar was buying 70.81 U.S. cents.
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