The Australian dollar rebounded on Thursday against a broadly weak US dollar, supported by rising commodity prices and improved appetite for riskier assets and higher-yielding currencies. But soft data on domestic building approval and a 41 percent jump in Australia's trade deficit saw the currency trim gains from a high of $0.9368 against the US dollar.
"The Aussie dollar had a pretty good rebound today. It will probably remain around the $0.93 to $0.94 range for the next 24 hours," said Katie Dean, senior market economist at ANZ. The Aussie rose 1 percent to $0.9352/55 against the US dollar from $0.9259/64 late here on Wednesday.