Dollar unchanged against US

THE Australian dollar is steady against its US counterpart despite volatility. On Monday, the Australian dollar was worth 74.73 US cents.

THE Australian dollar is steady against its US counterpart despite volatility.

At 0635 AEST on Monday, the Australian dollar was worth 74.73 US cents, virtually unchanged from 74.74 US cents on Friday.

Westpac’s Imre Speizer said the local currency had been volatile, initially falling from 74.85 to 74.48, then sharply rebounding to 74.91.

He said, in a note on Monday morning, he expected to see the Australian dollar “consolidating in the 0.7440-0.7500 range”.

CURRENCY SNAPSHOT AT 0635 AEST ON MONDAY

One Australian dollar buys:

* 74.73 US cents, from 74.74 on Friday

* 83.148 Japanese yen, from 83.144 yen

* 68.48 euro cents, from 69.69 euro cents

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

Originally published as Dollar unchanged against US