Falls in the greenback have helped the Australian dollar climb higher.

At 1200 AEDT on Tuesday, the local currency was trading at 75.46 US cents, up from 74.94 cents on Thursday.

The greenback lost ground overnight after weaker-than-expected US economic data reduced concerns about potential interest rate rises.

BK Asset Management managing director Kathy Lien says it’ll be a pivotal week for the greenback, which will impact the Aussie’s fortunes too.

US Federal Reserve Chair Janet Yellen will give a speech on Wednesday morning (AEDT) and a key US labour market report is due out on Friday night, she said.

Both events will influence expectations for the June Fed policy meeting, she said.

“Right now, the market is pricing in a six per cent chance of a rate hike in April and 36 per cent chance of a move in June,” she said.

Ms Lien said Australia’s most important event risks this week will be local and Chinese manufacturing surveys.

“For the time being, Australia appears to be weathering the slowdown in China well,” she said.

Ms Lien said the greenback should remain a primary driver of the Aussie while the Reserve Bank of Australia shows limited concern about its movements.

KEY MOVEMENTS:

One Australian dollar buys:

* 75.46 US cents, from 74.94 cents on Thursday

* 85.54 Japanese yen, from 84.53 yen

* 67.40 euro cents, from 67.07 euro cents

* 112.06 New Zealand cents, from 112.01 NZ cents

* 52.97 British pence, from 53.16 pence

Government bond yields:

* CGS 5.25pct March 2019, 1.978pct, from 2.991pct

* CGS 4.25pct April 2026, 2.571pct, from 2.582pct

Sydney Futures Exchange prices:

* June 2016 10-year bond futures contract, was at 97.425 (implying a yield 2.575 per cent), up from 97.420 (2.580 per cent) on Thursday

* June 2016 3-year bond futures contract, at 98.040 (1.960 per cent), up from 98.020 (1.980 per cent)

(*Currency closes taken at 1700 AEDT previous local session, bond market closes taken at 1630 AEDT previous local session)

Source: IRESS