The Australian dollar declined today, falling for the third straight session, as the renewed concerns about Europe’s sovereign debt crisis sapped investors’ demand for higher-yield.

Concerns about the Australian employment report prompted the Down Under currency to lose ground to the US dollar and the Japanese yen yesterday. Today, though, the downtrend has stopped, and Aussie is gaining some ground.

The Australian dollar edged down today as the pessimistic outlook for tomorrow’s employment report outweighed the positive fundamental reports today.

The Australian dollar declined today, extending its yesterday’s drop against the greenback and the yen as the concerns about the crisis in Europe and the negative fundamental reports from Australia decrease attractiveness of the currency.

Last week, Japanese leaders intervened in an effort to help keep the yen weak. However, the maneuver didn’t go off as well as expected, thanks to demand for Japanese assets from China. And, today, yen is strengthening again as a safe haven.

The Australian dollar ended this week with losses against some majors, including the US currency and the euro, as the negative fundamentals caused Australia’s central bank to cut its main interest rate.

The Australian dollar fluctuated today, heading for a first weekly loss against the US dollar since September, after the Reserve Bank of Australia cut its economic forecast, leading to the speculation that the central bank will decrease the interest rates on its next monetary policy meeting.

The Australian dollar fell today as Forex market participants anticipate an interest rate cut by the Reserve Bank of Australia tomorrow.

The Australian dollar retreated today after the yesterday’s surge on the speculation the currency gained to much and to fast to keep the gains.

The inflation report that showed a slowing inflation weakened the Australian dollar. But will the currency extend its drop? That’s a definite possibility in case the central bank would cut the interest rate next month.