The Australian dollar has slipped against its US counterpart, which lifted as strong US payrolls data underlined expectations of a lift in US interest rates.

At 0640 AEDT on Thursday, the Australian dollar was worth 75.36 US cents, down from 75.95 US cents on Wednesday.

“US dollar strength was again the main theme, with all the majors underperforming the US dollar,” Westpac senior market strategist Imre Speizer said.

He expects the local currency to hover around the 75 US cents level, but slip lower over the medium term as the likely interest rate increase later this month maintains upside pressure on the greenback.

The local currency was higher against the yen but eased versus the euro.

AAP

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