Aust dollar rides in early trade

Local currency lifts to two-and-a-half week highs on solid economic growth data.

The Australian dollar hit a two-and-a-half-week high after the release of solid local economic growth figures.

At 0630 AEST, the local unit was trading at 91.70 US cents, up from 91.29 cents on Wednesday.

In overnight trade, it peaked at 91.89 US cents, the currency's highest level since August 19.

Official data on Wednesday showed Australia's gross domestic product (GDP) was up 0.6 per cent in the June quarter for an annual rate of 2.6%, which matched market expectations.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles