Aust dollar lifts on soft US data

Local currency continues to climb after weaker-than-expected home sales figures.

The Australian dollar is higher after disappointing American data put downward pressure on the greenback.

At 0630 AEST, the local unit was trading at 92.54 US cents, up from 92.22 cents on Monday.

The US dollar is trading lower after weaker-than-expected figures showed existing home sales dropped by 1.2% in June.

The downward pressure on the US dollar pushed the local currency higher overnight.

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