Australian dollar slips

dollar2The Australian dollar has fallen Wednesday, buying 73.34 US cents from 73.70 US cents on Tuesday.

Yesterday, the local currency has edged higher as speculation about a slower pace of rate hikes from the Federal Reserve dragged on its US counterpart.

The Aussie inched ahead to 73.68 US cents on Tuesday and back toward Monday’s four-month peak at 73.94 US cents. Dealers reported stiff resistance above 73.80 US cents which was proving tough to break.

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