$A hit with longest stretch of losses in a year on China woes

The Australian dollar fell in its longest stretch of losses in almost a year as concerns about China’s economic recovery continue to weigh on the currency and commodity prices.

The local currency dropped for its seventh consecutive session on Tuesday to trade at US66.30¢, its lowest level since June 17. That’s down more than 2 per cent from a peak of US67.84¢ just over a week ago after the Chinese Communist Party’s Third Plenum policy meeting left markets disappointed.