$A higher despite weak retail data
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The Australian dollar has pushed back above 105 US cents, despite the release of weaker-than-expected retail spending figures.
At 1700 AEDT on Wednesday, the Australian dollar was trading at 105.08 US cents, up from 104.82 US cents.
Easy Forex currency dealer Francisco Solar said the dollar traded in a narrow range during the local session, but finished the day higher as traders waited for developments during the US and European sessions overnight.
But he said the currency dipped back below 105 US cents shortly after the release of national retail figures for November at 1130 AEDT.
The Australian Bureau of Statistics figures showed retail spending fell 0.1 per cent in the month, well below economists' expectations of a 0.3 per cent rise.
"The Aussie dollar had a look below 105 cent briefly following the retail data, but there really hasn't been any conviction in the currency's movements one way or another," he said.
Mr Solar said the Australian dollar's movements were increasingly dependent on the US, with signs the world's largest economy is improving and speculation the US Federal Reserve will end its stimulus program sooner than expected.
"If you see US data improving that may strengthen the US dollar against the Aussie," he said.
At 1700 AEDT, the Australian dollar was at 91.93 Japanese yen, up from 91.69 yen on Tuesday, and at 80.30 euro cents, up from 79.85 euro cents.
Meanwhile, Australian bond futures prices moved higher following the retail data.
At 1630 AEDT, the March 10-year bond futures contract was trading at 96.620 (implying a yield of 3.380 per cent), up from Tuesday's close of 96.600 (3.400 per cent).
The March three-year bond futures contract was at 97.220 (2.780 per cent), up from 97.170 (2.830 per cent) previously.