The Australian dollar is higher, helped by a bounce in US stocks on the back of some strong US consumer confidence data.

At 6.30am (AEST), the local unit was trading at US69.91c, up from US69.47c on Tuesday.

Wall Street spent a large part of its day in negative territory, before enjoying strong gains after a report showed that the US consumer confidence index had risen to 103.0, when a sharp drop had been expected.

Source : Business Spectator