Aust dollar higher in early trade

Local currency lifts as weaker US retail sales puts pressure on US dollar.

The Australian dollar is higher after disappointing American retail sales figures put pressure on the US dollar.

At 0630 AEST, the local unit was trading at 91.02 US cents, up from 90.87 cents on Monday.

The Australian dollar was given a boost overnight after figures showed US retail sales rose 0.4% in June, weaker than the 0.7% that analysts had expected.

The lacklustre data put downward pressure on the US dollar as it gives the US Federal Reserve less reason to taper its economic stimulus program.

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