SYDNEY, June 30 (Xinhua) -- The Australian dollar has lifted after global market sentiment improved.
At 7:00 a.m. local time (AEST) on Thursday, the Australian dollar was trading at 74.52 U.S. cents, up from 73.94 U.S cents on Wednesday.
By 9:30 a.m. local time (AEST), the Australian dollar had risen slightly to 74.55 U.S. cents.
Commonwealth Bank of Australia currency strategist Joseph Carpurso said that the Australian dollar lifted modestly, as it tracked higher equity markets and commodity prices.
"But the Australian dollar and New Zealand dollar are likely to ease today as fund managers adjust their hedges to reflect this month's sharp declines in global equity markets," Carpurso said.
"The next Australian dollar-centric event is the China manufacturing PMI tomorrow."
Westpac senior market strategist Imre Speizer noted that as sentiment stabilized, the Australian dollar should rise further.
"(It has the) potential to reach 75 U.S. cents," Speizer said.
