The Australian dollar has closed firmer following an upbeat consumer sentiment reading and renewed pressure on the greenback.
The currency touched US94.63c in late afternoon trading, up from US94.02c late on Tuesday.
Twenty minutes after closing, the Australian dollar hit US95c for the first time in five days, a big turnaround from a 33-month low of US93.26c hit on Tuesday night.
The recovery gained momentum in late morning trade, after the Westpac/Melbourne Institute consumer sentiment reading for the month rose 4.7 per cent to 102.2 points, above the key 100 level signifying optimism.
"I'm sure that the better consumer sentiment has helped, and certainly during our morning the Aussie did do better," Westpac chief currency strategist Robert Rennie said.
But he said the Australian dollar's recovery had more connection to a weaker greenback, as traders weighed up when the US Federal Reserve would wind back its asset purchasing program.
