Australian dollar unchanged
At 0635 AEDT on Friday, the Australian dollar was worth 76.55 US cents, down marginally from 76.57 US cents on Thursday.
The US dollar index rose to a 10-day high on Thursday helped by a combination of technical trading and a theme of strong US economic data.
US gross domestic product grew faster than previously reported in the fourth quarter of last year thanks to robust consumer spending, the Commerce Department said.
Westpac’s Imre Speizer said the Australian dollar initially lifted early in the overnight session, before losing stead.
“(The) AUD initially probed higher to 0.7680 but retreated in New York to 0.7652,” he said Friday morning in a note.
“The US dollar index’s recovery extended to its third day, only briefly dented by a report that Trump was looking at punishing currency manipulators.”
He said he expected the Aussie dollar to be contained within a 76.00-77.00 US cent range on Friday.
The local currency has gained against the yen and the euro.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.
Coles underpaid hundreds of workers an estimated $20 million over the last six years. The announcement overshadowed… https://t.co/mV1XEPAK0l6 hours ago
A veteran of Australia's retail industry, Wai Tang, recently passed away after a short illness. She had more than 3… https://t.co/4YDhJ6VAPt9 hours ago