SYDNEY (AFX) - The Australian dollar was lower in late afternoon on continued concern over the impact on commodity prices from the global economic slowdown, dealers said. The unit traded between a high of 0.4983 usd and a low of 0.4899 during the day. ANZ Investment Bank economist Karen Pringle said global forex markets remained relatively quiet, partly due to requests by the US Federal Reserve to keep trading in US dollars to a minimum. She said that as the Australian economy remains one of the strongest around there is not the urgency to cut rates that faces the Federal Reserve. "The timing of rate cuts here is likely to depend more on the stability of the Australian dollar. A rate cut should be seen as positive step toward supporting this strong economy. "However, the big story at present is global uncertainty and risk aversion and that, unfortunately, will not favour the Australian dollar, and with a five-month bullish trend line breached, 0.4775 lows cannot be ruled out," she said.