At 07:00 (AEST), the Australian dollar was buying 72.25 U.S. cents, down from 72.97 U.S. cents on Monday.
The Aussie dropped further against the greenback and were trading around 72.25 U.S. cents before bottomed at 71.99 U.S. cents which is the lowest level since Sept. 9 on Tuesday's session.
"AUD/USD finally succumbed to recent equity weakness, beginning its decline in the Sydney afternoon from 0.7320, extending to 0.7199 then steadying around 0.7225, -0.9 percent on the day," Westpac Bank economists said in a morning note.
At 09:00 (AEST), the local unit was buying 72.29 U.S. cents.
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