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$A lower as US stocks fall

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SYDNEY, Nov 8 AAP

November 08 2012, 06:46AM

The Australian dollar is half a US cent lower after US stocks fell two per cent amid renewed concerns about the US economy.

At 0630 AEDT on Thursday, the local unit was trading at 104.12 US cents, down from 104.63 cents on Wednesday.

There was an initial bout of optimism after US President Barack Obama's election win on Wednesday (AEDT), but US stock markets opened lower as investors became pessimistic about the America's budget and economic challenges.