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FOREX - AUSTRALIAN DOLLAR WEAKER IN NOON TRADE - NOV 1, 2005.
SYDNEY, Nov 1 Asia Pulse - The Australian dollar continued to slip further at noon today extending overnight losses as the US dollar received a boost from positive income data.
At 1200 AEDT the local currency was trading at US$0.7469/74, below yesterday's close of 0.7500/05.
During morning trade it reached a low of US$0.7465 and a high of 0.7486.
OZFOREX head of corporate dealers Jim Vrondas said the Australian dollar extended its overnight losses as its US counterpart got a boost from positive income data.
"The Aussie weakened again overnight due to more US dollar strength, particularly against the yen," he said.
"The data was mixed with the income data quite positive, although the consumer spending was a bit negative but that was due to increasing inflation which distorted the figure a bit."
However, Mr Vrondas said the market saw the net result of the data as a positive and continued to buy US dollars.
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Source: HighBeam Research, FOREX - AUSTRALIAN DOLLAR WEAKER IN NOON TRADE - NOV 1, 2005.