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FOREX - AUSTRALIAN DOLLAR OPENS FLAT - AUGUST 1, 2006.
SYDNEY, Aug 1 Asia Pulse - The Australian dollar opened little changed today, with the local market sidelined as investors await further direction on the interest rate outlook.
At 0700 AEST the local unit was trading at $US0.7661/65, similar to yesterday's close of 0.7663/67.
ICAP head of economics and strategy Michael Thomas said the Australian dollar, like other currencies, had been range-bound during an uneventful overnight session.
The local unit reached a low of $US0.7644 and a high of 0.7674.
Comments by US Federal Reserve speakers did not have a significant impact on the currency market overnight.
"If there was one dominating sentiment for the price action overnight, it would probably be the flow-on from last Friday's GDP (gross domestic product) report in the United States, which showed US growth slowing," Mr Thomas said.
"So bond ...
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Source: HighBeam Research, FOREX - AUSTRALIAN DOLLAR OPENS FLAT - AUGUST 1, 2006.