Dollar down as US markets partially close

THE dollar is lower, as the market waits to see the impact of a massive storm sweeping the US east coast.

THE dollar is lower, as the market waits to see the impact of a massive storm sweeping the US east coast.

US stock markets have partially closed in preparation for superstorm Sandy, which is expected to hit New York today.

NAB currency strategist Emma Lawson said Australian markets had also been slowed by the news.

"We've been moving in very small increments today," she said. "We moved down last night, and now we've edged up slightly - currencies are not doing much because of the closed US markets."

Ms Lawson said a Bank of Japan meeting was the only event of interest today, and could affect regional markets.
 
"The market is expecting a 10 trillion ($15.62 trillion) yen increase in the asset-purchase program," she said.

At 12pm AEDT today, the dollar was was trading at 103.40 US cents, down from 103.58 cents yesterday.

Meanwhile, Australian bond futures prices were higher at noon. At 12pm AEDT today, the December 10-year bond futures contract was trading at 96.930 (implying a yield of 3.070 per cent), up from 96.890 (3.110 per cent) at yesterday's close.

The December three-year bond futures contract was at 97.480 (2.520 per cent), up from 97.450 (2.550 per cent).