10 December 2001, 09:01 Forex - Australian dollar little changed in quiet trade
SYDNEY (FWN) - The Australian dollar was little changed in quiet late
afternoon trade, dealers said.
The unit traded between a high of 0.5158 usd and a low of 0.5140 during the
day.
IBJ Australia Bank manager of treasury and foreign exchange Steve Chater
said the market was focused on US dollar and yen trading with the Australian
dollar sidelined for most of the day.
An economist with ANZ Investment Bank said equity flows and economic growth
have replaced commodity prices as the dominant factors behind moves in the
Australian dollar.
"Consequently, limited support is expected to emerge for the Aussie as the
US current account continues to improve and domestic growth outperforms most
industrial nations," he said.
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