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SYDNEY, July 3 Asia Pulse - The Australian dollar opened the week virtually unchanged from Friday as mixed US data reinforced expectations that an end to the US tightening is near.
At 0700 AEST the local unit was trading at $US0.7422/27, just slightly below Friday's close of $US0.7428/30.
Over the weekend it reached a low of $US0.7416 and a high of 0.7452.
CommSec's chief equities economist Craig James said with the US Federal Reserve meeting our of the way, it's back to business for currency investors and traders.
"The key issues have not altered - it all boils down to the outlook for US interest rates and inflation," he said.
"If inflation appears to be more settled and the US economy continues to slow, then the Federal Reserve will move to the sidelines."
Mr James said the US dollar would continue to lose traction in this case and the local unit would push back above the $US0.7500 mark.
Source: HighBeam Research, FOREX - AUSTRALIAN DOLLAR OPENS STEADY - JULY 3, 2006.