Australian dollar drops

dollar23The Australian dollar is lower after US stocks handed back earlier gains to end the session only slightly higher, and copper prices fell.

At 0635 AEST on Tuesday, the local currency was worth 75.28 US cents, down from 75.47 US cents on Monday. Wall Street closed slightly higher after the S&P 500 briefly crossed into negative territory after hitting a two-month high earlier in the session.

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