The Australian dollar is hardly changed against its US counterpart even as the greenback weakens slightly amid mixed data and comments from the Federal Reserve.

At 0635 AEST on Monday, the Australian dollar was worth 75.62 US cents, down slightly from 75.65 US cents on Friday.

Westpac’s Imre Speizer said US manufacturing PMI (Markit) fell from 52.7 to 52.1, disappointing against an expected 53.0 and the lowest since September.

“Fed dove (St Louis Federal Reserve president) James Bullard said the Fed should remain on hold given the recent weakness in inflation…. Hawk (Cleveland Fed president Loretta) Mester, in contrast to Bullard, said economic fundamentals were “pretty good” right now and accommodation should be removed,” Speizer said in a morning note.

In response to the mixed signals, Speizer said: “The US dollar index fell by 0.3 per cent while the Australian dollar rose from 0.7550 to 0.7583″.

He expected the Australian dollar would trade against the greenback “in a slightly higher range of 0.7535-0.7635 today”.

The Aussie dollar is lower against the yen and the euro.

AAP

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