The Australian Dollar fell as yield advantage if its bonds over the U.S. debt were reduced due to reduced speculation that the U.S. Federal Reserve will cut its interest rates. The Australian Dollar has fallen a total of 2.3 percent from a 17 year high on April 19. ''People are postponing expectations of a U.S. rate cut,'' said Peter Pontikis, treasury strategist at Suncorp-Metway Ltd. in Brisbane, Australia. ''That's adding to U.S. dollar strength and the consolidation of the Australian dollar.''
In forex-trading, the Australian Dollar was worth 81.99 U.S. cents this morning in comparison to 82.18 U.S. cents in late Asian trade yesterday.
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