The Australian dollar lost about a third of a US cent on Monday following mixed economic data, as currency traders awaited Tuesday's Reserve Bank rates decision and commentary. 
Figures released by the Australian Bureau of Statistics on Monday showed retail sales were flat in   February, defying hopes of a 0.4 per cent rise and disappointing those looking for more signs of a consumer-led recovery.
But building approvals rose a solid 3.1 per cent in the same period, rebounding from the previous month's 7.5 per cent decline and eclipsing predictions of a 2.5 per cent rise, the ABS reported.
The Australian dollar fell about a third of a cent to the day's low of US76.40Â¢ on the news. By mid-afternoon it was US76.30Â¢.
Prior to that, the Aussie had been trading around US76.70Â¢, the level it was at prior to the release of US jobs data on the weekend.
The Aussie initially dipped US0.8Â¢ after the release of the better than expected US data, but within hours it had bounced back to make up the losses.
This week, however, traders remain focused on Tuesday's Reserve Bank meeting, rating a cut to the 2 per cent official cash rate only a 7 per cent chance.