22 October 2001, 10:08  Forex - Australian dollar slightly higher in thin late afternoon trade

SYDNEY (AFX) - The Australian dollar was slightly higher in thin late afternoon trade, dealers said. The unit traded between a high of 0.5096 usd and a low of 0.5085 during the day. IBJ Australia Bank manager of treasury and foreign exchange Steve Chater said the currency market is groping for direction in the absence of major economic data, although Australian CPI data to be released on Wednesday may provide a lead for the Aussie. Otherwise, the local unit is likely to see narrow rangebound trade this week, with support level of 0.5050-0.5060 usd, he said.

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