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SYDNEY, April 1 Asia Pulse - The Australian dollar opened broadly unchanged compared to yesterday's close as continued concerns about the timeframe for the war in Iraq weighed on the US dollar.
At 0700 AEST, the Australian dollar was at $US0.6041/46 compared with $US0.6035/40 at yesterday's close.
Offshore, the US dollar was under pressure for most of the session after equity markets slipped on concerns the war could go on for an extended period of time.
The Australian dollar benefited from this US dollar weakness, rising to a high of $US0.6057 in the US session, its highest level since March 12.
The local currency got a boost yesterday afternoon as the US dollar continued to weaken and this is likely to underpin gains going forward as investors move out of United States-denominated assets and go looking for ...
Source: HighBeam Research, FOREX - AUSTRALIAN DOLLAR OPENS SLIGHTLY HIGHER - APRIL 1, 2003.