3 December 2001, 09:03  Forex - Australian dollar little changed in quiet trade

SYDNEY (FWN) - The Australian dollar was little changed in quiet trade ahead of the release of third-quarter GDP data on Wednesday, dealers said. The unit traded between a high of 0.5218 usd and a low of 0.5201 during the day. A dealer with Macquarie Bank said he expects the market to remain quiet until the GDP announcement. The market forecasts range from a 0.5-1.3 pct GDP growth from the June quarter, with the median at 1.1 pct. The Australian dollar rose slightly after the release of better-than-expected October retail sales data, which rose 1.3 pct from September and was up 8.6 pct year-on-year, but was unable to sustain the upward momentum, the dealer said.

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