Aust dollar rises in early trade

Local currency claws back some of the previous session's steep losses.

The Australian dollar has recovered some of its losses since the Reserve Bank of Australia (RBA) indicated there could be further cuts to the cash rate.

At 0630 AEST, the local unit was trading at 90.77 US cents, up from 90.45 cents on Tuesday.

The Australian dollar fell almost one US cent yesterday after the RBA released the minutes from its August board meeting, when it cut the cash rate to 2.5%.

The minutes used unusually blunt language to say there was the possibility of a further reduction, although not imminently, which saw the local currency fall.

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