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SYDNEY, June 1 Asia Pulse - The Australian dollar opened broadly unchanged after a Memorial Day holiday in the United States, ahead of a Reserve Bank of Australia (RBA) meeting today.
At 0700 AEST the local currency was trading at $US0.7148/56, compared with 0.7144/49 at yesterday's close.
In overnight trading it touched a low of $US0.7142 and a high of 0.7175.
National Australia Bank strategists said a number of important data releases this week will help direct the local currency.
The Reserve Bank of Australia board (RBA) meets today but is expected to leave interest rates unchanged, they said.
"The RBA will be pleased to see a cooling in domestic demand but will be more interested in what is happening now in housing, domestic demand and the currency," the strategists said.
"We expect interest rates to remain ...
Source: HighBeam Research, FOREX - AUSTRALIAN DOLLAR OPENS SLIGHTLY HIGHER - JUNE 1, 2004.