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The Australian dollar is trading under 90 US cents after a quiet day of trade.

At 1700 AEDT on Monday, the local unit was trading at 89.66 US cents, down from 89.98 US cents on Friday.

Commonwealth Bank chief currency strategist Richard Grace said a lack of local data and offshore influences had kept the local currency within a tight range.

"That means there's been little effect on the Australian dollar for us today," Mr Grace said.

There had been no major offshore leads to influence traders.

Mr Grace said the local unit was likely to continue trading in a tight range until the release of European inflation figures and Australian Capital Expenditure data later in the week.

The next major piece of local economic data is Thursday's private new capital expenditure figures for the December quarter.