Aust dollar slips in early trade

Local currency falls back below US92c after rise in US jobless figures.

The Australian dollar has fallen as a rise in United States jobless figures failed to have an impact on the greenback.

At 0630 AEST, the local unit was trading at 91.91 US cents, down from 92.71 cents on Thursday.

After finishing firmer on Thursday, the currency fell as traders overlooked data showing US unemployment benefit applications rose by 16,000 last week to 360,000.

The less volatile four-week average increased 6,000 to 351,750, American labour department figures showed.

But it appeared traders accepted that weekly job application figures for early July can be volatile as car factories are temporarily shut down to prepare for new jobs, while schools are closed.

The US dollar tends to lose value if the market interprets weak economic data as another sign the US Federal Reserve will continue with its stimulus measures.

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