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Australian dollar slightly weaker, traders ignore Greece politics

Australian dollar slightly weaker, traders ignore Greece politics

SYDNEY: Traders ignore political volatility in Greece as the Australian dollar slightly weaker.
At 1700 AEDT on Tuesday, the local unit was trading at 81.32 US cents, slightly down from 81.36 cents on Monday.
The inability of the Greek parliament to elect a new president in a final round of voting hit European equity markets, and dented the Australian Securities Exchange, as polls showed strong support for the left-wing, anti-austerity Syriza political party.
But RBC Capital Markets currency strategist Michael Turner said thinner trading volumes had more of an effect on the Australian dollar than the events in Greece.
‘It’s probably a function of this time of year as well,’ he said.
‘Aussie was rallying through most of last night, it’s come off a little bit today but we’re talking about a fixed-point range over the course of this week.’
The currency had started the morning session in a slightly weaker position after crude oil prices fell to a five-year low.