Aussie dollar higher on a weakened greenback

Softer than expected U.S. retail sales data saw the Australian dollar rise against the greenback in overnight trade.

At 7 am local time on Wednesday, the Australian dollar was trading at 74.54 U.S. cents, up from 74.28 U.S. cents on Tuesday.

Westpac strategist Imre Speizer told Business Review on Wednesday currency traders' attention had been on the US ahead of the Greek parliament's vote on the euro-zone's bailout conditions.

"U.S. data took center stage for a change," Speizer said. " Retail sales disappointed, causing a dip in the U.S. dollar and U. S. interest rates, while equities rose."