THE Australian dollar has followed major currencies lower in a quiet day of trading.
At 1700 AEDT on Tuesday, the currency was trading at 104.07 US cents, down from 104.17 cents on Monday.
Easy Forex senior currency dealer Francisco Solar said it had been a quiet day of trading with few major pieces of economic news.
However, he said the Australian dollar was dragged down by falls in other major currencies against the US dollar.
"Markets have been a little bit off it today, major currencies like the euro and the sterling have been trading lower and that has dragged the Aussie down a little," he said.
He said the release of Australian quarterly wage price data would probably be the main driver of the currency on Wednesday.
Economists expect the Australian Bureau of Statistics data to show a 0.8 per cent rise in wages in the September quarter.
But he said the currency could fall below 104 US cents overnight if the euro continued to weaken against the US dollar.
The euro has dropped around two US cents since last Wednesday.
"You'd be hard pressed to see it hold on to 104 if the euro keeps moving lower."
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