The Australian dollar is lower against its US counterpart ahead of US president Donald Trump’s first address to a joint session of Congress.

At 0635 AEDT on Tuesday, the Australian dollar was worth 76.73 US cents, down from 76.92 US cents on Monday.

The US dollar index is little changed after retesting yesterday’s low, while the local currency ranged sideways between 76.70 and 77.70 US cents, Westpac’s Imre Speizer says in a note.

He said the Aussies dollar was likely to be neutral on Tuesday, having lost momentum and markets were “unlikely to see too much US dollar movement ahead of the Trump speech”.

The US president is due to address Congress on Tuesday (US time) for the first time amid hopes he will give some clues on how he plans to carry out his agenda of boosting economic growth.

The Aussie dollar was also down against the euro but higher against the yen.

AAP

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