The Australian dollar has extended its gains against the greenback as the US currency continues to retreat on the back of soft manufacturing data.
At 1200 AEDT on Tuesday, the local unit was trading at 76.63 US cents, up from 76.00 cents on Monday.
In the US, the Empire State index fell further into negative territory in October, dropping for the third month in a row to hit its lowest level since May and suggesting a deeper contraction in manufacturing activity in the New York region.
CMC Markets chief market strategist Michael McCarthy said overnight strength in iron ore prices had also helped boost the Aussie.
The Australian dollar was also stronger against the yen, euro and pound.
CURRENCY SNAPSHOT AT 1200 AEDT ON TUESDAY
One Australian dollar buys:
* 76.63 US cents, from 76.00 cents on Monday
* 79.50 Japanese yen, from 79.24 yen
* 69.56 euro cents, from 69.21 euro cents
* 62.58 British pence, from 62.47 British pence
* 106.63 New Zealand cents, from 106.99 NZ cents
BOND SNAPSHOT:
* CGS 5.25pct March 2019, 1.7380pct, from 1.743 on Monday
* CGS 4.25pct April 2026, 2.2580pct, from 2.267.
Sydney Futures Exchange prices:
* December 2016 10-year bond futures contract at 97.715 (implying a yield of 2.285 per cent), from 97.710 (2.290 per cent) on Monday.
* December 2016 3-year bond futures contract at 98.290 (1.710 per cent), unchanged from 98.290.
(* Currency closes taken at 1700 AEDT previous local session, bond market closes taken at 1630 AEDT previous local session)
Source: IRESS
