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Australian dollar drifts below 94 US cents

THE Australian dollar has drifted back below 94 US cents following positive economic data out of the US.

An Australian one-dollar coin is arranged for a photograph in Sydney, Australia, on Wednesday, April 17, 2013. Direct trading between the Australian dollar and yuan started on April 10. Photographer: Ian Waldie/Bloomberg
An Australian one-dollar coin is arranged for a photograph in Sydney, Australia, on Wednesday, April 17, 2013. Direct trading between the Australian dollar and yuan started on April 10. Photographer: Ian Waldie/Bloomberg

THE Australian dollar has drifted back below 94 US cents following positive economic data out of the US.

At 0630 AEST on Monday, the local currency was trading at 93.96 US cents, down from 94.15 cents on Friday.

US durable goods orders rebounded in June from a sharp fall in May, boosted by a jump in defence aircraft orders, official data showed.

Originally published as Australian dollar drifts below 94 US cents

Original URL: https://www.couriermail.com.au/business/markets/australian-dollar-drifts-below-94-us-cents/news-story/ec56562c4b3a879f1fc486ea23ff1f98