THE Australian dollar lost some ground as minutes of the US Federal Reserve's last meeting hinted that the central bank was more likely to unwind its stimulus measures before the mid-2014 target.
At 6.30am AEST the local unit was trading at 91.23 US cents, down from 91.96 cents at yesterday's local close.
The currency came under renewed pressure during offshore trade after minutes of the US central bank's June 18 and 19 Federal Open Market Committee meeting showed "about half'' of the participants thought the $US85 billion a month bond buying program should be wound up by the end of this year.
The news boosted the greenback, hurting the Australian dollar.
US Fed chairman Ben Bernanke signalled last month that quantitative easing (QE) could end by mid-2014, depending on economic circumstances, which caused a plunge in the Australian dollar.
