The Australian dollar is firmly back above US71c after it got a boost from some stronger US inflation figures.

At 7.00am (AEDT) on Wednesday, the local unit was trading at US71.21c, up from US70.84c on Tuesday.

US consumer prices rose 0.2 per cent in October, bouncing from falls the previous two months.

Westpac Strategist Imre Speizer said that even though inflation bounced back it was still weak.

Of interest to financial markets on Wednesday will be the release of the Westpac-Melbourne Institute Leading Indexes of Economic Activity and a speech by Reserve Bank assistant governor for financial markets Guy Debelle in Sydney.

Source: Business Spectator