The Australian dollar has jumped to its highest level in more than two weeks following a stronger-than-expected rise in Chinese exports and imports.
At 17:00 AEDT, the Australian dollar was trading at $US1.0549, up from $US1.0508 yesterday.
Commonwealth Bank currency strategist Joseph Capurso said the Australian dollar surged early in the afternoon following the release of official Chinese trade figures.
The figures showed Chinese exports rose 14.1 per cent last month from a year earlier while imports increased 6 per cent, leaving a trade surplus of $US31.6 billion.
"Given China is Australia's largest trading partner that was very supportive of the Aussie dollar," Mr Capurso said.
"You saw the Aussie shoot up about half a cent."
The Australian dollar rallied to $US1.0556, its highest level since December 18, following the release of the Chinese figures.
Mr Capurso said the Australian dollar was likely to hold onto is gains during the US and European sessions tonight.
He said it was likely to be a quiet night of trading and did not expect meetings of the European Central Bank and Bank of England to have much impact on the market.
"I don't think it’s going to be too much of a busy night tonight," he said.
