Greenback falls on US data

THE Australian dollar is higher against its US counterpart which has fallen broadly following weaker-than-forecast data.

THE Australian dollar is higher against its US counterpart which has fallen broadly following weaker-than-forecast US housing and consumer sentiment data.

At 0635 AEST on Monday, the Australian dollar was worth 76.21 US cents, up from 75.85 US cents. Westpac’s Imre Speizer said the US dollar had fallen 0.3 per cent, while the local currency had risen from 75.80 to 76.30.

He expected the Australian dollar to continue to rise on Monday. “Positive momentum remains intact, 0.7640 the immediate target area,” he said in a morning note. The Australian dollar is higher against the yen but unchanged against the euro.

CURRENCY SNAPSHOT AT 0635 AEST ON MONDAY

One Australian dollar buys:

* 76.21 US cents, from 75.85 on Friday

* 84.52 Japanese yen, from 84.35 yen

* 68.00 euro cents, unchanged

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

Originally published as Greenback falls on US data