SYDNEY, Oct. 11 (Xinhua) -- The Australian dollar is still gaining against the greenback after oil prices jumped overnight.
At the Asian open on Tuesday, the local unit was trading at 76.05 U.S. cents, up from 75.96 U.S. cents on Monday.
Commonwealth Bank of Australia chief currency strategist Richard Grace in a research note said the Australian dollar climbed back above 76.00 U.S. cents and rallied against the major cross rates, as oil and other industrial commodity prices lifted.
"Iron ore prices lifted on news that there was another setback in the production of Rio Tinto's Simandou production project in Guinea," Grace said.
"Second tier economic data out of Australia today (Tuesday) will not impact the Australian dollar exchange rate in a meaningful way."
"However, the state of Australia's August home lending will be important to observe," he said.
At 0912 local time (AEDT) the Australian dollar was trading at 76.08 U.S. cents.
