Australian dollar weaker amid upbeat US data

A BATCH of upbeat US data has whacked the Australian dollar back down toward 78 US cents following a short-lived rally overnight.

MONEYSAVERHQ .. Australian One Dollar Coins over Black

A BATCH of upbeat US data has whacked the Australian dollar back down toward 78 US cents following a short-lived rally overnight.

At 0700 AEDT on Friday, the local currency was trading at 78.20 US cents, up slightly from 78.18 cents on Thursday.

The Australian dollar began climbing on Thursday afternoon, peaking at 78.85 US cents at around 2030 AEDT before descending back toward 78 US cents.

The currency came under pressure as positive US economic data, including weekly jobless claims and service sector figures, boosted the US dollar, National Australia Bank global co-head of FX strategy Ray Attrill said.

“US weekly jobless claims fell to 282,000 from 291,000 — levels consistent with ongoing 250,000-plus gains in US non-farm payrolls and a declining unemployment rate,” Mr Attrill said.

CURRENCY SNAPSHOT AT 0700 AEDT ON FRIDAY

One Australian dollar buys:

* 78.20 US cents, from 78.18 cents on Thursday

* 93.23 Japanese yen, from 92.96 yen

* 71.84 euro cents, from 71.21 euro cents

* 103.14 New Zealand cents, from 103.15 NZ cents

* 52.67 British pence, from 52.53 pence

(*Closes taken at 1700 AEDT previous local session) Source: IRESS

Originally published as Australian dollar weaker amid upbeat US data