Aussie backs off four-month high

Australian dollar dipped on Monday away from four-month highs hit on Friday, amid a lack of data in the markets while eyes of the global are fixed on the US government shutdown. 

Aussie hit marked highs on Friday after the US Senate failed to pass a bill to fund the government, forcing a shutdown that sent the dollar index to three-year nadirs against a basket of major rivals. 

The greenback has steadied today as investors opt to wait and monitor the situation, especially as Congress scrambles to end the shutdown. 

Gold has fallen today as well, heaping pressure on Aussie and nudging it down in Asian trade, as the Aussie reacts quickly to movements in commodity prices. 

AUD/USD dipped to 0.7991 from the opening of 0.7998, with a session-high at 0.8003, and a low at 0.7978.