Aust dollar rallies in early trade

Local currency recovers from fall sparked by fears of a slow down in China.

The Australian dollar is higher, recovering from a fall sparked by comments from the Chinese finance minister who said China was unlikely to receive a massive stimulus this year.

At 0630 AEST, the local unit was trading at 91.69 US cents, up from 91.52 cents yesterday.

The statement from minister Lou Jiwei said "large-scale fiscal stimulus" measures wouldn't be used this year, which re-awakened fears of a slow down in Australia's main trading partner.