Dollar slips in early trade

The local currency slips after early rally

The Australian dollar has lost some ground after weaker-than-expected United States economic growth figures drove an earlier rally in the local currency overnight.

At 0700 AEST, the local unit was trading at 92.78 US cents, down from 92.80 cents on Wednesday.

The Australian dollar climbed to 93.47 US cents on Wednesday evening before falling back below 93 US cents.

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