The Australian dollar has fallen against its US counterpart as the greenback staged a minor rebound.

At 0700 AEST on Friday, the local unit was trading at 75.04 US cents, down from 75.31 cents on Thursday.

The currency had gained some ground on Thursday after the US dollar weakened on the Federal Reserve’s decision to hold interest rates steady and issued a more upbeat assessment of the world’s largest economy.

But market expectation is still for a US rate rise in December and Westpac strategist Imre Speizer says US dollar strength could further depress the Aussie.

“US dollar strength could depress it slightly further but expectations the BOJ (Bank of Japan) will announce more stimulus today, plus the rally in iron ore, should see 0.7460 support hold,” Speizer said.

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