The Australian dollar is down fractionally against its US counterpart ahead of domestic housing finance data.

At 0635 AEDT on Friday, the Australian dollar was worth 75.02 US cents, down slightly from 75.08 US cents on Thursday.

Westpac’s market strategist Imre Speizer said the US dollar index rose 0.2 per cent overnight, while the Australian dollar fell to a two-month low of 74.91 before consolidating.

He said the main risk event for the local currency on Friday would be January’s housing finance data with owner-occupier approvals expected to dip 0.1 per cent “though caution is required this month given the volatility caused by summer seasonal adjustment”.

The Australian dollar was also down against the euro but higher against the yen.

AAP

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