The Australian dollar fell sharply as a business survey and price data from China disappointed on demand prospects.
Producer prices year-on-year for February fell 4.8%, more than the 4.3% decline expected. But consumer prices year-on-year for the same month rose 1.4%, faster than the 0.9% gain expected.
A mixed picture of inflation in February no doubt will fuel the debate over deflation and future rate cuts. CPI sharply beat market expectations and January's CPI could be the bottom of the current cycle. thereby easing pressure for the People's Bank of China to cut rates further.
The NAB February business conditions survey stayed at plus2 in February, while business confidence fell to zero from plus-3.
Overnight, the dollar remained lower against a basket of other major currencies on Monday, holding just under a 11-1/2 year peak as investors locked in profits from Friday's rally sparked robust U.S. jobs data.
The euro remained under pressure as the eurogroup of euro zone finance ministers prepared to hold talks to discuss a reform package put forward by Greece as part of its bailout review.
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