At 07:00 (AEST), the Australian dollar was buying 76.25 U.S. cents, down from 77.45 U.S. cents on Tuesday.
"Asia's risk-averse mood extended to Europe and the U.S., as Europe imposed fresh lockdowns and the AstraZeneca vaccine generated more negative headlines," Westpac Bank economists said in a morning note.
"Equities and bond yields fell, oil tumbled more than 6 percent and risk-sensitive currencies extended their decline."
At 09:00 (AEST), the local unit was buying 76.28 U.S. cents.
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