Dollar rises on retail trade data

THE Australian dollar rose a quarter of a US cent after the release of better-than-expected retail trade data.

At 11.30am AEDT today, the Australian Bureau of Statistics (ABS) announced that retail trade rose 0.9 per cent in January.

The market had forecast an increase of 0.3 per cent in the month.

At 11.35am AEDT, the currency was at 102.24 US cents, up from 101.99 US cents shortly before the data's release.

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