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Dollar firms despite rate cut talk
1points
THE Australian dollar was firmer at noon as an improvement in key commodity prices helped the currency recover from a choppy morning session.
The domestic currency had struggled to stay above $US0.8700 for most of the morning after a Reserve Bank of Australia (RBA) board member said interest rates could fall before inflation moderated.
At 12noon (AEST), the Australian dollar was trading at $US0.8714/18, up from yesterday's close of $US0.8698/01.
During the morning session, the Australian dollar traded between a high of $US0.8760 and a low of $US0.8668.
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