The Australian dollar is relatively steady with no significant economic data or events to drive the currency market.

At 12.00pm (AEDT) on Monday, the local unit was at US77.79c, down from US77.87c on Friday.

During the morning it traded in a tight range, between US77.58c and US77.83c.

With US markets closed for the Presidents’ Day holiday on Monday night, Australian time, trade has been uneventful, OANDA Asia Pacific senior trader Stephen Innes said.

Source : businessspectator