The Australian dollar on Tuesday slid to almost two-week low on escalating hopes of an interest rate cut in April and slumping iron ore prices.

The Aussie traded at 76.32 US cents from Monday’s 77.23 US cents. It also ended at 70.80 euro cents from 71.03 euro cents, and ¥91.64 and ¥92.04.

The currency has become this week’s worst performer among major currencies. “The most direct fundamental mark for the local dollar comes through rate expectations,” said John Kicklighter, Chief Currency Strategist at FXCM.

The material has been provided by InstaForex Company –