The Australian dollar was trading higher after climbing above 105.5 US cents during the overnight offshore session.
The local currency rose in line with a strong rally on Wall Street, where the S&P500 index was up 0.8 per cent late in the New York trading day.
At 6.30am AEDT the Australian dollar was at 105.52 US cents, up from yesterday’s local close of 105.10 US cents.
During the overnight offshore session, the local currency traded between 105.03 US cents and 105.56 US cents.
In economics news today, China was due to release economic growth figures for the fourth quarter, as well as retail sales and industrial production data for December.
Source:
http://www.theaustralian.com.au/business/markets/australian-dollar-strengthens-in-offshore-trade/story-e6frg94o-1226556292803
