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.

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