Aust dollar hits fresh 3-month low

Local currency extends its recent decline in early trade, holds below US91c.

The Australian dollar has dipped to a fresh three-month low as falling commodity prices and the prospect of an interest rate cut in the new year keeping the currency under pressure.

At 0630 AEDT, the local unit was trading at 90.70 US cents, down from 91.26 cents on Wednesday.

In overnight trade, it fell as low as 90.65 US cents, its weakest level since September 4.