The Australian dollar is lower in the wake of better than expected US economic data and on going concerns over Greek debt.

At 0700 AEST on Wednesday, the local unit was trading at 77.36 US cents, down from 77.96 cents on Tuesday.

NAB senior currency strategist, Emma Lawson, said the dominant force overnight was the stronger greenback, which was buoyed by the release of positive US durable goods orders figures.

“The US dollar is stronger, also a good sign of risk aversion, but also of the stronger US data,”  Lawson said.

“They (the data) weren’t extraordinary but good enough for a return to considering higher US interest rates this year.”

She said there were also continued worries about Greek debt, but few new developments overnight.

“There wasn’t much new news on the Greece concerns,”  Lawson said.

“Greece could combine all their June payments together if the IMF agrees, which gets them another two weeks for agreement with the IMF.”

Westpac said it expected the Aussie to trade around 77 US cents on Wednesday and Thursday in response to the stronger US currency.

AAP