Aussie dollar to continue its slide

THE Australian dollar is lower against its US counterpart which has remained steady in the offshore session.

Currency markets were fairly stable overnight.

THE Australian dollar is lower against its US counterpart which has remained steady in the offshore session.

At 0635 AEST on Friday, the Australian dollar was worth 75.41 US cents, down from 75.54 US cents on Thursday.

Westpac’s Imre Speizer said currency markets were fairly stable overnight. “The US dollar index is unchanged on the day ... AUD slipped from 0.7560 to 0.7535,” he said in a morning note.

He said the local currency would likely continue its slide on Friday. “The firmer US dollar has capped AUD/USD recently, and further slippage to the 0.7520 area is possible today.”

The Aussie dollar is virtually unchanged against both the yen and the euro.

CURRENCY SNAPSHOT AT 0635 AEST ON FRIDAY

One Australian dollar buys:

* 75.41 US cents, from 75.54 on Thursday

* 83.94 Japanese yen, from 83.93 yen

* 67.61 euro cents, from 67.60 euro cents

(*Currency closes taken at 1700 AEST previous local session)

Originally published as Aussie dollar to continue its slide