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Aussie dollar sheds against the greenback at open

Xinhua, October 27, 2016 Adjust font size:

The Australian dollar has slipped against the U.S. dollar.

At the Asian open on Thursday, the local unit was trading at 76.42 U.S. cents, down from 76.90 U.S. cents on Wednesday.

Commonwealth Bank of Australia chief currency strategist Richard Grace in a note said the Australian dollar declined in overnight trade and under-performed on the cross rates, giving up all of its post third quarter CPI (consumer price index) gains as commodity prices put in a mixed performance, and participants reassessed the chances of a Reserve Bank of Australia's November 1 interest rate reduction.

At 0928 local time (AEDT), the Australian dollar was trading at 76.43 U.S. cents. Enditem