THE Australian dollar has risen steeply on weak US growth data.
Official data released on Friday showed the US economy has expanded by an annual rate of 2.2 per cent - less than the forecast 2.5 per cent.
Commonwealth Bank currency strategist Joseph Capurso said this allowed the Australian currency to spike up.
"The main move upwards for the Aussie dollar was based on US dollar weakness because of that GDP result,'' he said.
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