Australian dollar rallies to 89.71 US cents
THE Australian dollar has rallied to 89.71 US cents on better-than-expected trade figures.
THE Australian dollar continues to rally on better-than-expected trade figures.
At 0630 AEDT on Friday, the local unit was trading at 89.71 US cents, up from 89.60 US cents on Thursday.
The Aussie dollar hit a four-week high of 89.82 US cents on Thursday after Australian Bureau of Statistics data showed a surplus of $468 million in December, following a surplus of $83 million in November.
This contrasts with US figures, released overnight, which show America's trade deficit widened sharply in December following a decline in exports.
The deficit rose to $US38.7 billion ($A43.5 billion) in December, a 12 per cent increase from November's upwardly revised $US34.6 billion level, the Commerce Department said.
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