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SYDNEY, Nov 1 Asia Pulse - The Australian dollar opened firmer from yesterday's close with expectations of a rate cut in the United States anticipated to help keep the Australian dollar near current levels.
At 0700 AEDT, the Australian dollar was worth $US0.5552/57 compared with 0.5532/37 at yesterday's close.
The Australian dollar has also been boosted by weakness in the US dollar on the back of a weaker than expected advanced September quarter GDP number.
This result has added to expectations that the US Federal Reserve could cut interest rates when it meets on November 6.
The rate cut is expected to spark improved growth in the US, underpinning global economic growth.
Still, dealers said the risk was again for a further retracement, given the Australian dollar was unable to rally past the $US0.5600 ...