Aust dollar slips in early trade

Local currency weakens following falls on Wall St and commodity prices overnight.

The Australian dollar is lower following falls on Wall Street and commodity prices overnight.

At 0630 AEDT, the local unit was trading at 96.24 US cents, down from 96.53 cents on Wednesday.

On Wednesday, the currency reached a five-month high of 97.58 US cents after the release of higher-than-expected September quarter inflation figures.

The Australian dollar has lost ground since as traders took profits and local and overseas stock markets lost ground.