Aussie dollar below parity with greenback

The Australian dollar has slipped below parity with its US counterpart for the first time since March, after data showed Chinese inflation was worse than expected in July.

The Australian dollar has slipped below parity with its US counterpart for the first time since March, after data showed Chinese inflation was worse than expected in July.

The local unit hit a low of $US0.9998 in the immediate aftermath of the Chinese inflation data, and was trading at at $US1.0105 at 1147 AEST.

The unit hit a fresh five-month low, down 1.8 per cent for the day.