The Australian dollar settled below an offshore high of near 76 US cents on Friday as investors await influential US payrolls data release on Friday.
The Aussie rose to 75.93 overnight, its strongest level since mid-April, boosted by a broadly weaker US dollar. The Aussie was buying $0.7570/75, compared with $0.7555/60 late here on Thursday and up 1.3 percent from a week ago.
"The US dollar is again on the nose, with investors focusing on high US budget and current account deficits, relatively low interest rates and the uncertain path for the economy," said Craig James, economist at Commonwealth Securities.
"In contrast, the Australian economy is in strong shape, the budget is firmly in the black and interest rates are relatively high," he said. Australia's central bank left rates at 5.25 percent for an 11th month this week.
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