Dollar hardly changed against greenback

THE Australian dollar is little changed against its US counterpart despite the greenback lifting ahead of the Federal Reserve’s interest rate decision.

THE Australian dollar is little changed against its US counterpart despite the greenback lifting ahead of the Federal Reserve’s decision on whether it will raise its interest rate this month.

At 0635 AEDT on Wednesday, the Australian dollar was worth 75.67 US cents, up slightly from 75.63 US cents on Tuesday.

The US dollar rose overnight, bolstered by an expected interest rate increase by the US central bank this week and by political risks in Europe amid Dutch and French elections that have pressured European currencies.

The US dollar index, which measures the greenback against a basket of six major currencies, climbed 0.2 per cent to 101.54.

Meanwhile, the Australia is also higher against the euro but down against the yen.

CURRENCY SNAPSHOT AT 0635 AEDT ON WEDNESDAY

One Australian dollar buys:

* 75.67 US cents, from 75.63 on Tuesday

* 86.79 Japanese yen, from 86.87 yen

* 71.30 euro cents, from 70.96 euro cents

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