PERTH: The Australian dollar slipped towards US77¢ on Monday as weakening COMMODITY PRICESand an absence of data removed support for its climb to US78¢.
In late local trade the Aussie was buying US77.17¢, down sharply from its US78.01¢ level at the same time on Friday. At one stage it brushed US77.12¢
The local unit eased throughout Monday’s domestic trading session, following the sharemarket down after Chevron sold half of its 50 per cent stake in Caltex Australia.
“The deal will go down as that largest block trade in Australian history and in Asia so far this year,” said OANDA Asia Pacific senior trader Stephen Innes.
