Dollar slightly lower after Boehner resigns

THE Australian dollar is slightly lower, after political uncertainty in the US put an end to a rally.

THE Australian dollar is slightly lower, after political uncertainty in the US put an end to a rally. At 0630 AEST on Monday, the local unit was trading at 70.28 US cents, down from 70.33 cents on Friday.

Speaker of the US House of Representative John Boehner resigned on Sunday creating uncertainty about the chances of another government shutdown over an upcoming bill to increases the government’s credit limit.

CURRENCY SNAPSHOT AT 0630 AEST ON MONDAY

One Australian dollar buys:

* 70.28 US cents, from 70.33 cents on Friday

* 84.71 Japanese yen, from 84.72 yen

* 62.83 euro cents, from 63.02 euro cents

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

Source: IRESS