$A range-bound as US shutdown continues October 4, 2013 - 7:49AM The Australian dollar is slightly lower, staying in a tight range as the continuing US budget crisis overshadows mixed economic data from the US. At 0700 AEST on Friday, the local unit was trading at 93.96 US cents, down from 94.01 cents on Thursday. Since 1700 AEST on Thursday, the Australian dollar has traded between 93.67 and 94.15 US cents. The currency fell after new claims for unemployment insurance in the US last week increased to 308,000, much better than the figure of 315,000 analysts were expecting. However, the Aussie regained later in the night, partly helped by a report showing US services sector activity slowed sharply in September. LTG GoldRock director Andrew Barnett said the American government shutdown was also helping support the Australian dollar against a very weak greenback. The US government also needs to pass a law by mid-October allowing it to raise its borrowing limit. Mr Barnett said most traders were convinced the White House and the Congress would agree to a resolution quickly but it now looked like the shutdown would last into next week. "The Aussie dollar has been range-bound overnight while that drama is unfolding," he said. My thoughts are they will come to a deal on both the government funding and the debt ceiling and they may combine it together. When that does happen, I think we're going to see some strength in the US dollar, which will mean a pullback for the Aussie dollar down to 92 US cents.