- Switzer Report - https://switzerreport.com.au -

$A weakens as US economy surges ahead

The Australian dollar is weaker as a surprise jump in US economic growth boosts the greenback.

At 0630 AEDT on Wednesday, the local currency was trading at 85.24 US cents, down from 86.02 cents on Tuesday.

The unit fell sharply to 85.16 US cents, its lowest point since July 2010, after official figures showed that the American economy grew at a robust 3.9 per cent during the September quarter.

Business investment and consumer spending had picked up, the US Commerce Department said.