Dollar weaker

The Australian dollar has closed slightly weaker, after touching US88c during the local session thanks to some US dollar weakness.At close yesterday, the Australian dollar was trading at 87.99c, down from Monday’s close of 88.18c. During the day, the domestic currency traded between a low of 87.58c and a high of 88.07c. ANZ senior currency strategist Tony Morriss said the Australian dollar was taking advantage of a slide in its US counterpart as expectations of a US Federal Reserve interest rate cut further pressured the US unit.
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