THE dollar was slightly lower at noon as a weak lead from the US left the local market lacking direction.
At 12pm (AEST), the Aussie was trading at $US0.8975/79, a touch lower than yesterday's close of $US0.8977/79.
Since 7am it has traded between $US0.8953 and $US0.8977.
CMC Markets foreign exchange dealer Tim Waterer said the local unit was not doing "too much" during morning trade.
"We're not seeing much movement on the Asian markets today.
"Yes, it was a weak (overnight) lead. But in percentage terms we didn't see as big a fall as we had become accustomed to this week.
"There's nothing really driving the Australian dollar."
World stock markets stumbled yesterday as a surprise rise in US new jobless claims added to gloom over the economy, with investors looking for safety as risks to growth mount.
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Dealers said news that US jobless claims rose slightly, instead of falling as was expected, topped a dismal series of figures which have stoked fears that the recovery is in trouble.
Mr Waterer said the local currency was still in "wait and see mode" ahead of the release of important US retail sales figures tonight.
"If there's anything that's going to potentially break the losing streak of stocks it could be a good result in US retail sales," he said.
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