$A slides further against $US

Chris Hutchings
(Australian Associated Press)

 

The Australian dollar has continued to gently slide against a stronger US counterpart despite the latter pausing from its US jobs data and wages growth inspired lift.

At 0635 AEDT on Tuesday, the Australian dollar was worth 79.06 US cents, down from 79.36 US cents on Monday.

The US dollar paused on Monday after rebounding at the end of last week, when a strong jobs report suggested the currency’s weakness might have gone too far, too fast.

The US dollar index against a basket of six major currencies stood little changed at 89.175 after gaining 0.6 per cent on Friday, Reuters reported.

Overnight the Australian dollar touched 78.91 US cents, its lowest in three weeks following a 1.5 per cent fall on Friday. The Aussie had advanced to 81.36 late in January, its highest in more than two years.

The Aussie dollar is higher against the yen and marginally up against the euro.

CURRENCY SNAPSHOT AT 0635 AEDT ON TUESDAY

One Australian dollar buys:

* 79.06 US cents, from 79.36 on Monday

* 86.80 Japanese yen, from 87.26 yen

* 63.74 euro cents, from 63.71 euro cents

(*Currency closes taken at 1700 AEDT previous local session)

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