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FOREX - AUSTRALIAN DOLLAR OPENS WEAKER - OCT 1, 2001.

AsiaPulse News

| October 01, 2001 | COPYRIGHT 2001 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, Oct 1 Asia Pulse - The Australian dollar open slightly weaker today with dealers noting that the public holiday in Sydney should limit the range over the course of the day.

At 0910 AEST the Australian dollar was trading at $US0.4913/18 from $US0.4924/29 at Friday's local close.

Dealers said the market had seen a reasonable bid tone heading into the US weekend with the unit reaching a high of $US0.4967 before some late profit taking pushed it back down around the $US0.4920 area.

Further selling in early trade has helped drive the unit towards the $US0.4900 level.

"We are middle of the range at the moment," said an offshore Australian dollar dealer.

"Short term I think the Aussie is likely to stick to the ...

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