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Aussie dollar bounces ahead of U.S. presidential debate

Xinhua, September 27, 2016 Adjust font size:

The Australian dollar has gained against the greenback as investors await the U.S. presidential debate with Republican candidate Donald Trump and Democrats Hillary Clinton.

At the Asian open on Tuesday, the local unit was trading at 76.35 U.S. cents, up from 76.18 U.S. cents on Monday.

Commonwealth Bank of Australia chief currency strategist Richard Grace in a research note the Australian dollar was modestly higher in the overnight session, lifting to 76.49 U.S. cents, as the greenback softened and oil and base metal commodity prices lifted.

"Oil prices lifted after the world's largest oil producer, Saudi Arabia offered to pump less oil if Iran caps output, although no agreement was reached," Grace said.

"We think the Australian dollar will remain firm this week."

"There are no major Australian economic releases this week so Aussie dollar will be influenced by the trend in the U.S. dollar, broader financial market sentiment and commodity prices," he said.

At 0912 local time (AEST), the Australian dollar was trading at 76.35 U.S. cents. Endit