Dollar up despite US, Europe equity falls

THE dollar is higher today, despite equity market falls in the US and Europe overnight, on concerns about the eurozone debt crisis and global growth.

THE dollar is higher today, despite equity market falls in the US and Europe overnight, on concerns about the eurozone debt crisis and global growth.

After an optimistic start to the trading week, stocks around the world lost their steam yesterday after subdued German growth figures reinforced fears over the global economy.

At 6.20am AEST, the dollar was trading at 104.74 US cents, up from 104.44 US cents yesterday.

In economic data today, the Australian Bureau of Statistics is due to release the June labour price index at 11.30am AEST.

The Westpac/Melbourne Institute Survey of Consumer Sentiment for August is due at 11am AEST.

The dollar hit a peak of 110.81 US cents on July 27, its highest level since the fixed exchange rate era ended with its float in December 1983.