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SYDNEY, March 1 Asia Pulse - The Australian dollar lifted to the open, floating higher on yesterday's stronger-than-expected capital expenditure data and heading toward the top of its range.
At 0700 AEDT the Australian dollar was at $US0.5169/74, from $US0.5163/68 at yesterday's close.
Commonwealth Bank senior economist Michael Workman said the local currency rose overnight as traders started to digest the capital expenditure data.
Real private capital expenditure rose 8.3 per cent, seasonally adjusted, in the December quarter to $10.426 billion from a downwardly revised $9.629 billion in the September quarter, the Australian Bureau of Statistics said yesterday.
"The more ...
Source: HighBeam Research, FOREX - AUSTRALIAN DOLLAR OPENS HIGHER - MARCH 1, 2002.