The concerned investors, including hedge funds, stepped up sales of riskier assets and growth-linked currencies, which consequently led to the Australian dollar edge down on Wednesday. The Aussie was trading at $US0.8335, at the local close. The data showed gross domestic product surged 0.5 per cent in the first quarter.

Commodities fell in addition to Asian stocks, which were broadly lower, dragged down the Australian dollar. It did not get grip from first-quarter growth data which illustrated the Australian economy holding up very well.

Tim Waterer, forex dealer in CMC Markets said, "I think the Aussie will be continue to spend a good portion of its time in the $US0.82 to $US0.85 cent range whilst sovereign debt in Europe clouds investment in higher yielding assets".

The Aussie looks increasingly vulnerable, on the charts to test this week's low of $US0.8278. If it fell below that level, it will go down to an extent of $US0.8252, which is 61.8 per cent retracement of the Aussie's budge from a
10-month low of $US0.8066 to a high of $US0.8550.

Aussie climbed as far as 76.79, against the Yen, which is , well off the day's lows of 75.27. It fell at 76 yen, towards the evening.