Australian dollar remains above 93 US cents

THE Australian dollar remains above 93 US cents after the US Federal Reserve chair's testimony to congress revealed nothing new.

On Thursday morning, the dollar was trading at 93.34 US cents.

THE Australian dollar remains above 93 US cents after the US Federal Reserve chair's testimony to congress revealed nothing new.

At 0630 AEST on Thursday, the local currency was trading at 93.34 US cents, down from 93.45 cents on Wednesday.

Janet Yellen began her testimony before the Joint Economic Committee of Congress in Washington overnight where she reiterated that interest rates would remain on hold for some time after tapering ended.

Originally published as Australian dollar remains above 93 US cents