Aust dollar slips in early trade

The Australian dollar is lower after the minutes of the United States Federal Reserve's October policy meeting showed that it could reduce its economic stimulus program in the coming months.

At 0630 AEDT, the local unit was trading at 93.40 US cents, down from 93.96 cents on Wednesday.

The Federal Open Market Committee left the $US85 billion-a-month bond-purchase program in place but expects economic data in the coming months will continue to improve enough to begin the long-awaited tapering.