Dollar falls against greenback

THE Australian dollar is lower against its US counterpart which has retraced its losses from the previous session.

THE Australian dollar is lower against its US counterpart which has retraced its losses from the previous session.

At 0635 AEST on Thursday, the Australian dollar was worth 74.96 US cents, down from 75.17 US cents on Wednesday.

The US dollar recovered on Wednesday, a day after hitting a three-week low against major currencies on lowered expectations for US interest rate hikes and concerns about President Donald Trump’s ability to deliver a promised fiscal boost.

The US dollar index, which measures the greenback against a basket of six major currencies, was up 0.31 per cent at 99.81. On Tuesday, it fell to 99.465, the lowest since March 28.

The Australian dollar was also lower against the yen and the euro.

CURRENCY SNAPSHOT AT 0635 AEST ON THURSDAY

One Australian dollar buys:

* 74.96 US cents, from 75.17 on Wednesday

* 81.59 Japanese yen, from 81.72 yen

* 69.99 euro cents, from 70.10 euro cents

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

Originally published as Dollar falls against greenback