Dollar higher as US stocks gain

THE Australian dollar is higher, getting support from stronger overseas stock markets and higher commodity prices.

THE Australian dollar is higher, getting support from stronger overseas stock markets and higher commodity prices.

At 0630 AEST on Thursday, the currency was trading at 71.94 US cents, up from 71.59 cents on Wednesday.

US stocks were up for the second consecutive session ahead of the Federal Reserve’s decision on whether to raise its interest rate for the first time in nine years.

CURRENCY SNAPSHOT AT 0630 AEST ON THURSDAY

One Australian dollar buys:

* 71.94 US cents, from 71.59 cents on Wednesday

* 85.75 Japanese yen, from 86.14 yen

* 63.75 euro cents, from 63.63 euro cents

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

Source: IRESS