Australian dollar rises

dollar42The Australian dollar is up almost half a cent against a weakened US counterpart.

At 0635 AEDT on Friday, the Australian dollar was worth 78.51 US cents, up from 78.08 US cents on Thursday.

Westpac’s Imre Speizer says US equities have risen in the offshore but bond yields and the US dollar have fallen.

“Overall, it was more a consolidation, than an advancement session for markets,” he said in a morning note.

“The USD index is down 0.3 per cent on the day… (while the) AUD rose from 0.7790 to 0.7860.”

With no real domestic event risk or much to guide it, Speizer said, the local currency likely will consolidate between 78 and 79 US cents on Friday.

The Aussie dollar has fallen against the yen and is a little lower against the euro.

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