Australian dollar dips

australian-dollarThe Australian dollar has dipped slightly, buying 71.63 US cents from 71.70 US cents on Tuesday, still below the six-week high of 71.93 US cents.

The dollar is also buying $1.06 New Zealand dollars, 4.808 Chinese yuan renminbi, 80.3 Japanese yen, 63 Euro cents, and 54.9 British pence.

Australia’s central bank believes a cut in interest rates would be “appropriate” should inflation stay low and unemployment trend higher, though there was no strong case for a move in the near term.

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