: On Wednesday, the dollar dipped below 70 US cents for the first time since April 2009, according to Australian Broadcasting Corporation. The drop was triggered after economic growth figures for the second quarter came in below expectations. On another day of wild swings for the share market, the dollar was buying 69.7 US cents about 12:30pm . The All Ordinaries was also down by six points at 5,043, despite being up in midday trade, while the ASX 200 was off six points at 5,022. According to the Australian Bureau of Statistics , the figures showed the country gross domestic product grew by 0.2 per cent in the three months to June — the weakest rate of economic growth since the March quarter of 2013. Yesterday, official data also showed retail sales went backwards in July, with turnover falling by 0.1 per cent to $24.3 billion. currency, markets, australia noindex The ABS said reduced mining and construction activity weighed on growth, along with declining exports.
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