Dollar lifted

The Australian dollar has pushed above the 104 US cent mark after some positive news from the euro zone.

At 0630 AEST on Friday, the local unit was trading at 104.34 US cents, up/down from 103.74 cents on Thursday.

The local currency’s fall below 104 US cents came following the release of manufacturing data from China, which showed a small improvement, but less than the market had expected.

The HSBC Flash purchasing managers’ index had a reading of 47.8 in September, slightly up from 47.6 in August.

However, a successful bond auction in Spain on Thursday (European time) lifted market sentiment somewhat.

Ten year bonds reached an average yield of 5.67 per cent, compared to an average of 6.65 at an earlier sale.

AAP

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