Australian dollar up

The Australian dollar has risen Monday, buying 68.46 US cents up from 68.27 US cents on Friday.

Last Friday, the local currency was at 68.14 US cents, unchanged from Thursday’s 68.14 US cents.

Thursday morning, the local currency was at 67.97 US cents from 67.79  US cents on Wednesday.

It rebounded overnight, buying 67.69 US cents on Wednesday, up from 67.25 US cents on Tuesday.

On Tuesday, it neared its decade low before rebounding. The Aussie dollar dipped to close to a recent 10-year low on weak retail sales figures.

The Aussie dollar dipped as low as 66.88 US cents after the Australian Bureau of Statistics announced that retail spending fell by an unexpected 0.1 per cent in July.

But it later rebounded from that level – not far from a 10 and a half year low set of 66.77 cents set on August 7 – when the Reserve Bank of Australia announced in the afternoon that it would not to cut the cash rate for another month.

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