Dollar slightly up ahead of EU fund vote

THE Australian dollar was slightly higher ahead of a key vote in Slovakia that could block a plan to beef up the Eurozone's financial rescue fund.

THE Australian dollar was slightly higher ahead of a key vote in Slovakia that could block a plan to beef up the Eurozone's financial rescue fund.

Slovak lawmakers have rejected the Eurozone's revamped European Financial Stability Facility (EFSF) rescue fund.

The make-or-break vote came after the 16 other eurozone members approved changes to revamp the 440 billion euro ($603 billion) EFSF, set up in May 2010 after Greece was bailed out to save it from default.

At 6.30am (AEDT), this morning the local unit was trading at 99.84 US cents, up/down from 99.72 cents on yesterday.