Australian dollar higher after weak US data

THE Australian dollar is higher after the release of disappointing US economic figures.

THE Australian dollar is higher after the release of disappointing US economic figures.

At 0630 AEST on Wednesday, the local unit was trading at 76.27 US cents, up from 75.89 cents on Tuesday.

Over the past four months US retail spending, excluding cars and petrol has risen just 0.2 per cent, other data out overnight showed that American small business optimism fell in March.

CURRENCY SNAPSHOT AT 0630 AEST ON WEDNESDAY

One Australian dollar buys:

* 76.27 US cents, from 75.89 cents on Tuesday

* 91.09 Japanese yen, from 90.90 yen

* 71.60 euro cents, from 71.99 euro cents

(*Currency closes taken at 1700 AEST previous local session)

Source: IRESS

Originally published as Australian dollar higher after weak US data