The Australian dollar has fallen against a stronger greenback boosted by better-than-expected US economic data.

At 0700 AEDT on Friday, the local unit was trading at 94.56 US cents, down from 94.83 cents on Thursday.

The Australian dollar began tracking lower on Thursday following the release of jobs data showing Australia’s unemployment rate was at 5.7 per cent in October with the number of full-time jobs falling sharply.

Data overnight showed the US economy grew at an annual rate of 2.8 per cent in the third quarter, beating market expectations of 1.9 per cent.

“The Aussie dollar fell on the weak jobs numbers and has continued to drift lower overnight,” Bank of New Zealand currency strategist Mike Jones said.

“The Aussie dollar has felt the pinch of a strong US dollar following some pretty good US gross domestic product numbers.

“But investors are taking it with a grain of salt.

“The US October employment report is out on Friday night and it’s expected to be weak, so, no one is getting too excited about the US economy just yet.”

AAP