The Australian dollar rose against most major rivals on Wednesday after stronger than expected data. 

 

Government data showed Australian retail sales rose 0.6% last month, while analysts expected a rise of 0.3%.

 

Australia’s building permits surged by 5.5% in June, passing estimates of a 1.5% increase.

 

On trading, the AUD/USD pair rose 0.6% as of 20:26 GMT to 0.6706. 

 

Loonie

 

The Canadian dollar rose 0.3% against its US counterpart as of 20:26 GMT to 0.7335. 

 

US Dollar

 

The dollar index fell 0.3% as of 19:46 GMT to 105.4, with a session-high at 105.8, and a low at 105.05. 

 

Earlier ADP data showed the US private sector added 150 thousand new jobs in June, down from 157 thousand in May. 

 

US unemployment claims rose to 238 thousand last week from 234 thousand. 

 

The Federal Reserve released the minutes of its last policy meeting, which underlined the concerns of policymakers about the economic outlook and the persistent inflation above targets, 

 

Some participants even said if inflation remained at current levels, there might be a need to raise interest rates.

 

Wall Street will close tomorrow for the Fourth of July holiday. 

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