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(Australian Associated Press)
The Australian dollar is sharply down against its US counterpart as the greenback lifts against most currencies, except the yen and the kiwi dollar, in a lively session.
At 0635 AEST on Wednesday, the Australian dollar was worth 75.77 US cents, down from 76.10 US cents on Tuesday.
BK Asset Management managing director of FX strategy Kathy Lien said the overnight currency market had been lively despite the lack of market moving data, with the US dollar trading higher against most currencies.
“The Australian and Canadian dollar on the other hand lost value versus the greenback,” she said in a morning note.
“The Reserve bank of Australia minutes provided nothing insightful but the persistent decline in oil prices pushed the loonie lower.
“The price of crude fell 2 per cent even though OPEC and non-OPEC compliance with oil cuts highest level since May.”
The Aussie dollar is also down against the yen and the euro.
CURRENCY SNAPSHOT AT 0635 AEST ON WEDNESDAY
One Australian dollar buys:
* 75.77 US cents, from 76.10 on Tuesday
* 84.45 Japanese yen, from 84.96 yen
* 68.06 euro cents, from 68.23 euro cents
(*Currency closes taken at 1700 AEST previous local session)