The Australian dollar has gained against the greenback after US Federal Reserve governor Lael Brainard expressed concerns over continuing soft inflation.

At 0630 AEST on Wednesday, the local unit was worth 74.67 US cents, up from 74.38 US cents on Tuesday.

The move came after Ms Brainard said soft inflation may yet make her reassess monetary policy.

Brainard added she still anticipates a US rate rise soon.

The local currency was stronger against the yen, but down against the strengthening euro.

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