Australian dollar up

Dollar22The Australian dollar has risen against its US counterpart Tuesday, buying 71.80 US cents from 71.73 US cents on Monday.

Yesterday, the local currency has been put on the defensive by worries about slowing growth in China and globally, while a rapidly improving budget position in Australia gave a boost to bonds.

The Aussie dollar was hanging on at 71.73 US cents on Monday after touching a six-week trough at 71.51 US cents on Friday.

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