The Australian dollar marked time near a two-month low on Friday after a hectic offshore session that saw speculative investors dump high-yielding, commodity bloc and emerging market currencies.
The Aussie dollar fell 0.6 percent on the week as investors count down to an expected rate rise from the US Federal Reserve at its June 28-29 rate-setting meeting. "But against this, the still high level of commodity prices and the fact that Australian interest rates remain well above global rates provides a lot of support," he said. The Aussie stood at $0.7340/44. It had traded a $0.7322-$0.7411 range offshore on Thursday, sliding to its lowest level since April 17.