Australian dollar unchanged

dollar-7The Australian dollar is hardly changed against its US counterpart as stronger-than-expected US economic growth figures supported the greenback.

At 0635 AEDT on Friday, the Australian dollar was worth 76.55 US cents, down marginally from 76.57 US cents on Thursday.

The US dollar index rose to a 10-day high on Thursday helped by a combination of technical trading and a theme of strong US economic data.

US gross domestic product grew faster than previously reported in the fourth quarter of last year thanks to robust consumer spending, the Commerce Department said.

Westpac’s Imre Speizer said the Australian dollar initially lifted early in the overnight session, before losing stead.

“(The) AUD initially probed higher to 0.7680 but retreated in New York to 0.7652,” he said Friday morning in a note.

“The US dollar index’s recovery extended to its third day, only briefly dented by a report that Trump was looking at punishing currency manipulators.”

He said he expected the Aussie dollar to be contained within a 76.00-77.00 US cent range on Friday.

The local currency has gained against the yen and the euro.


Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.


Comment Manually

I have read and agree to the Terms and Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inside Retail Polls

Is the US-China trade war having an impact on your business?


Talks of a merger between @OZretailers and @retailaustralia have come to a close, with the parties failing to align…

5 days ago

.@Wesfarmers is one step closer to its acquisition of online retailer @Catch_au after @acccgovau announced it would…

2 weeks ago

In order to combat falling cash reserves, @oliversrealfood CEO is putting his own money on the line to fund the bus…

3 weeks ago

FREE NEWS BRIEFS Get breaking news delivered