Aust dollar hits three-month high

Local currency extends recent gains above US93c in overnight trade.

The Australian dollar remains at a three-month high amid increased optimism about the Chinese economy.

At 0630 AEST, the local unit was trading at 93.29 US cents, up from 92.90 cents on Wednesday.

The Australian dollar reached a three-month high of 93.21 US cents on Wednesday after Chinese industrial production and retail sales figures came in stronger than expected.

Profit-taking during the day saw the local currency slip back below 93 US cents but it bounced back overnight.