6 November 2001, 10:21 Forex - Australian dollar little changed in thin trade
SYDNEY (FWN) - The Australian dollar was little changed in thin trade in
late afternoon ahead of interest rate decisions in the US overnight and in
Australia tomorrow morning, dealers said.
The unit traded between a high of 0.5112 usd and a low of 0.5087 during the
day.
A dealer with Macquarie Bank said the movement was exaggerated in thin
trade
due to the Melbourne Cup.
He said the market does not expect the Reserve Bank of Australia to lower
interest rates tomorrow but expects the US Federal Reserve to cut rates by 50
basis points tonight.
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