Aust dollar higher in early trade

Local currency maintains gains from Reserve Bank's decision, statement.

The Australian dollar hit a two-week high after the Reserve Bank of Australia kept the cash rate unchanged and did not signal the possibility of further cuts.

At 0630 AEST, the local unit was trading at 90.55 US cents, up from 90.34 cents on Tuesday.

In overnight trade, the currency peaked at 90.73 US cents, its highest level since August 20.

The RBA statement that came with Tuesday's decision to keep the rate at a record low of 2.5% covered no new ground and had little guidance on future rate movements.

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