$A rises after investment data

Better-than-expected business investment data has contributed to a rise in the value of the Australian dollar.

The Australian dollar has risen nearly half a US cent after the release of better-than-expected business investment figures for the September quarter.

The Australian dollar was trading at 91.21 US cents at 1135 AEDT, up from from 90.79 US cents just before the data was released.

Data from the Australian Bureau of Statistics, released on Thursday, shows that businesses investment rose by 3.6 per cent in the September quarter.

The closely-watched figures cover investment in capital goods which includes things like buildings and equipment.

The median market forecast was for a fall of 1.2 per cent over the quarter.

The fourth estimate for capital expenditure in 2013/14 is $166.832 billion, which is 2.0 per cent lower than investment in 2012/13.


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Source: AAP


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