Australian Dollar weakness accelerated after June’s retail sales figure crossed the wires at -1.8% from the prior month. The drop from May also missed the consensus expectation of -0.7% m/m. AUD/USD pushed lower immediately following the weak data print, extending the currency pair’s recent losses. The steep drop-off in retail sales likely reflects a series of lockdown measures put in place to combat the Delta variant’s spread. The state of Victoria and New South Wales saw increased restrictions through June. The Westpac leading index – designed to forecast the direction of the economy – also saw a weak print on ... (full story)