PERTH: The Australian dollar has been boosted by disappointing US economic data.
At 12.00pm (AEDT) on Friday, the local currency was trading at US77.38c, up from US76.51c on Thursday.
US retail sales fell for the second straight month in January, pulled lower by falling petrol prices.
Meanwhile, new claims for unemployment insurance jumped last week to back above the 300,000 line, the US Labor Department said.
The disappointing figures weakened the US dollar, and along with a rise in commodity prices overnight, gave the Australian dollar a boost, said OANDA Asia Pacific senior trader Stephen Innes.
The local currency managed to hold onto those gains despite comments from Reserve Bank governor Glenn Stevens on Friday about the currency still being too high, Mr Innes said.
“These comments had little sting,” Mr Innes said.
Meanwhile, bond futures prices were higher.
At noon, the March 2015 10-year bond futures contract was trading at 97.515 (implying a yield of 2.485 per cent), up from 97.500 (2.500 per cent) on Thursday.
The March 2015 three-year bond futures contract was at 98.150 (1.850 per cent), up from 98.140 (1.860 per cent).
