Australian Dollar Pares Gain After Comment by RBA Official

By Ron Harui

Aug. 14 (Bloomberg) -- Australia's dollar pared gains after a central bank official said policy makers are in a ``position to consider cutting interest rates.'' New Zealand's dollar also trimmed its advance against the U.S. currency.

Australia's dollar dropped to 87.05 U.S. cents at 9:59 a.m. in Sydney, from an earlier high of 87.72 cents and 86.84 in late Asian trading yesterday. The New Zealand's dollar, which earlier gained as much as 1.5 percent, traded at 69.91 U.S. cents from 69.56 cents late yesterday.

To contact the reporter on this story: Ron Harui in Singapore at rharui@bloomberg.net;