Australian dollar dips

australian dollar 4The Australian dollar is lower against its US counterpart, slipping back below the 77 US cent mark.

At 0635 AEDT on Monday, the Australian dollar was worth 76.72 US cents, down from 77.09 US cents on Friday.

The Aussie’s rally has run out of steam and appears in need of consolidation inside a 76.00-77.00 US cent range said Westpac’s Imre Speizer.

The Australian dollar has also fallen against the yen and is up slightly against the euro.

AAP

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