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Australian dollar rises

dollar4The Australian dollar is higher against a strengthened greenback following strong economic data.

At 0635 AEDT on Thursday, the Australian dollar was worth 76.73 US cents, up from 76.62 US cents on Wednesday.

The US dollar climbed on Wednesday as investor optimism about the greenback rose ahead of major announcements on US fiscal and monetary policy after strong economic data.

The Federal Reserve kept US overnight interest rates unchanged and highlighted “solid” economic growth at the conclusion of its two-day policy meeting. Analysts said the Fed’s statement indicated that a December rate rise is overwhelmingly likely.

The ADP National Employment survey showed private employers added 235,000 jobs in October, surpassing estimates for 200,000 and setting up expectations for a strong US nonfarm payrolls report on Friday.

The Aussie dollar is also higher against the yen and the euro.

CURRENCY SNAPSHOT AT 0635 AEDT ON THURSDAY

One Australian dollar buys:

* 76.73 US cents, from 76.62 on Wednesday

* 87.56 Japanese yen, from 87.29 yen

* 66.01 euro cents, from 65.88 euro cents

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