The Australian dollar is fractionally lower against its US counterpart as its downward trajectory continues.

At 0635 AEST on Friday, the Australian dollar was worth 75.44 US cents, down slightly from 75.48 US cents on Thursday.

Westpac’s Imre Speizer said the local currency had consolidated its recent losses, and ranged between 75.33 and 75.68 US cents in the offshore session, while the US dollar index had risen 0.1 per cent.

“Downward momentum persists, (with the) AUD’s next target 0.7500 (9 March low),” he added.

AAP

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