Aust dollar hits three-month high

Local currency holds above US93c in early trade on upbeat Chinese data.

The Australian dollar has hit a three-month high as another batch of stronger-than-expected Chinese data boosted confidence about the state of the world's second largest economy.

At 0630 AEST, the local unit was trading at 93.18 US cents - its highest level since June 18 - up from 92.50 cents on Tuesday.

Official data released on Tuesday showed China's industrial production rose 10.4 per cent in the 12 months to August, the fastest increase since March 2012.

Retail sales, a key indicator of consumer spending, also beat expectations, rising 13.4 per cent in August compared with the same month last year.

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