Dollar slips against greenback

THE Australian dollar is lower against its US counterpart despite the US dollar falling from a three-week high.

THE Australian dollar is lower against its US counterpart despite the US dollar falling from a three-week high.

At 0635 AEST on Thursday, the Australian dollar was worth 75.69 US cents, down from 75.79 US cents on Wednesday.

The US dollar tumbled from three-week highs on Wednesday (US time), as minutes of the latest Federal Reserve meeting suggested the outlook for interest rates had not changed from what the Fed indicated in March after its rate rise decision.

Traders also said there was a bit of profit-taking in the greenback toward the end of the session especially in the US dollar-yen currency pair.

Meanwhile, Westpac’s Imre Speizer said in a Thursday morning note, the local currency had been fairly stable, ranging sideways between 75.60 and 75 87 US cents. “Momentum remains negative, AUD’s next downside target 0.7500 (9 March low),” he added.

CURRENCY SNAPSHOT AT 0635 AEST ON THURSDAY

One Australian dollar buys:

* 75.69 US cents, from 75.79 on Wednesday

* 83.76 Japanese yen, from 83.87 yen

* 70.93 euro cents, from 70.98 euro cents

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

Originally published as Dollar slips against greenback