Dollar back below 80 cents

Jarrod Sierocki

The local share market lost some earlier gains, but still managed to finish in positive territory. The ASX 200 rose 8 points or 0.1%.

The Aussie dollar could fall further on Friday.

THE Australian dollar is sharply lower against its US counterpart which has rebounded following solid US durable goods figures.

At 0635 AEST on Friday, the Australian dollar was worth 79.68 US cents, down from 80.37 US cents on Thursday.

Westpac’s Imre Speizer said markets reversed a good part of Thursday’s Federal Open Market Committee-related reactions, partly helped by solid US durable goods data, with the US dollar and bond yields rebounded while equities fell. US durable goods lifted 6.5 per cent in June, far exceeding expectations of a 3.9 per cent rise.

Following the data release, the Atlanta Fed upgraded its model estimate of second quarter gross domestic production from 2.5 per cent to 2.8 per cent.

“The US dollar index is up 0.2 per cent on the day, having rebounded to where it was before yest…

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