Money news | Commerse, Banking and Financial industry

Dollar slips back against us

THE Australian dollar is slightly weaker against its US counterpart after the greenback rose following the first US presidential debate.

At 0700 AEST on Wednesday, the local unit was trading at 76.67 US cents, compared to 76.78 cents on Tuesday.

Republican candidate Donald Trump and Democrats Hillary Clinton went head to head in the first of three televised debates in the lead-up to the US presidential election on November 8.

Market confidence was boosted by Ms Clintons solid performance against Mr Trump, with the US dollar recovering some ground.

Westpac currency strategists said the Aussie dollar is likely to stay in the range of 76 to 77 cents against the greenback, with gains likely to be capped at the upper limit.

The Aussie dollar is losing energy (perhaps a reflection of its declining yield advantage). By year end, theres a case for a correction towards 0.74 if the Fed (Federal Reserve) tightens in December as we expect, they said in a client note.


One Australian dollar buys:

* 76.67 US cents, from 76.78 US cents on Tuesday

* 77.02 Japanese yen, from 77.40 yen

* 68.37 euro cents, from 68.28 euro cents

* 105.04 New Zealand cents, from 105.14 NZ cents

* 58.88 British pence, from 59.15 pence

(*Currency closes taken at 1700 AEST previous local session)

Owners quit luxury fireravaged home putting the shell and prime riverside site to auction

A FIRE-ravaged residence purchased for $3 million a year ago will be auctioned this weekend.

The former luxury Queenslander at 164 Victoria Ave, Chelmer, was reduced to a shell several months ago when an early-morning fire took hold.

Place Graceville marketing agent Ted Hagemeijer said the prime riverside property offered many options for buyers.

To be able to buy 1138sq m of land in Chelmer is rare that just doesnt come up, Mr Hagemeijer said.

Theres a number of options here. You could rebuild to what it once was, you could demolish to build something new, or even demolish to subdivide into two lots.

Theres a fair bit of infrastructure left the carport at the front has electric gates and theres the pool and pool house.

Fire crews were called to the home at 4am on July 2.

Two adults and three children managed to escape the flames but it took more than five hours and 14 firefighting vehicles before the blaze was completely extinguished.

Mr Hagemeijer said there had been good solid interest in the property.

Theres a real variety of buyers, some looking to rebuild and others looking to subdivide, he said.

The owners have bought elsewhere and are getting on with their lives in Brisbane.

CoreLogic records show they paid $3 million for the property in September, 2015.

The home originally had six bedrooms with wide wraparound verandas, a home office, cold room and a gym.

The property will be auctioned on December 10 at 4pm, on site.