Dollar lower as data disappoints

THE Australian dollar remains lower against a strengthening US dollar.

A disappointing business survey yesterday also drove the Australian dollar lower. (AAP Image/Julian Smith)

THE Australian dollar remains lower against a strengthening US dollar.

At 12pm AEDT today, the Australian dollar was trading at 93.05 US cents, down from 93.32 cents yesterday.

The Australian dollar took a small dip following the release of weaker than expected wage price data, but quickly recovered to be above 93 US cents, Easy Forex currency dealer Tony Darvall said.

"There's not really too much needed to sell the Aussie dollar at the moment," he said.

"It's being sold off on weak data but strong data is not providing that usual level of bounce, and strong stock markets aren't supporting the Aussie at the moment.

"The main reason is US dollar strength and also expectations now that maybe the data out of Australia is going to be a little weaker than forecast."

Bond futures prices were higher.

At 12pm AEDT, the December 10-year bond futures contract was trading at 95.770 (implying a yield of 4.230 per cent), up from 95.755 (4.245 per cent) yesterday.

The December three-year bond futures contract was at 96.820 (3.180 per cent), up from 96.790 (3.210 per cent).

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