Australian dollar slips

dollar02The Australian dollar is slightly lower as the US dollar rallies driven by a rise in US Treasury yields.

At 0635 AEST on Wednesday, the Australian dollar was worth 80.19 US cents, from 80.37 US cents on Tuesday.

BK Asset Management managing director Kathy Lien said although the US dollar gained against the Australian dollar, it underperformed versus some other currencies.

“The inconsistency in the dollar’s performance is actually a positive sign because it reflects the improvement in risk appetite,” she said.

AAP

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