Aust dollar slips in early trade

Local currency falls slightly as investors take profits ahead of US debt resolution.

The Australian dollar is lower as investors take profits following two days of gains for risk currencies and stock markets.

At 0630 AEDT, the local unit was trading at 95.11 US cents, down from 95.33 cents on Tuesday.

The currency hit a four-month high of 95.40 US cents during local trade on Tuesday on expectations an agreement would be reached on raising the US government's debt ceiling.