PERTH: The Australian dollar is lower as traders bet the US Federal Reserve will raise its interest rate in June rather than September.
The local currency was worth US76.54 cents at noon (AEST), down from US76.85 cents on Friday.
The US dollar is enjoying a strong rally, which started last week against most of the major currencies, as recent US economic data was seen to increase the chances of a rate rise by the Fed.
“That’s having an impact on all currencies including the Aussie,” said Stephen Innes, senior trader at OANDA
Asia Pacific.
LTG GoldRock director Andrew Barnett said expectations this week’s Chinese and Australian economic numbers will be weak will put the Australian currency under further pressure.
That data includes Australian business and consumer confidence and jobs figures, plus Chinese economic growth and retail spending figures.
