The Australian dollar shed some of its recent hefty gains on Tuesday as economically damaging floods provided an excuse for profit-taking, though upbeat global data and strong commodity prices should limit the pullback. The Australian dollar fell to a five-day low of $1.0102 in a thin trading session, down 1.5 percent from a 28-year peak around $1.0257 touched on Friday.
The currency lost some of its shine as investors sold the Aussie to lock in profits after a stellar performance last month when it rose 6 percent. The Aussie was also hurt by worries about widespread floods affecting the country's mining areas. The Australian currency also gave ground to a firmer euro which edged up to A$1.3204 or up 0.6 percent on the day, having hit a record trough around A$1.2950 last week. The New Zealand dollar ran into profit-taking on recent hefty gains and pulled back to NZ$0.7718 from a peak of NZ$0.7813 on Friday.
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