The Australian dollar is slightly lower against its US counterpart, as it trades in a tight range ahead of the release of local inflation figures.

At 0635 AEST on Wednesday, the Australian dollar was worth 79.35 US cents, down from 79.41 US cents on Tuesday.

Westpac’s Imre Speizer said the US dollar made a recovery from it’s overnight low.

“The US dollar index initially fell to a fresh 13-month low but later retraced to be up 0.1% higher on the day,” he said.

AAP

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