The Australian dollar is higher against the US greenback, which fell after comments from US President-elect Donald Trump.

The local currency was trading at 75.59 US cents at 0640 AEDT on Wednesday, up from 75.24 on Tuesday.

The greenback fell after Trump said US companies could not compete with China because the US currency was too strong.

Trump has met with several high profile business leaders in recent weeks in a push to make good on campaign promises to retain American jobs from outsourcing. Earlier this week he met with Alibaba group chairman Jack Ma, who said his e-commerce company would crease 1 million jobs in the US over the next five years.

Global markets have been waiting with baited breath for the president elect to release details on his highly anticipated infrastructure program, which was a factor underpinning the rallying of the USD following the election last November.

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