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BS:Aust dollar closes higher
 
The Australian dollar has held on to its gains, supported by good local economic data and US dollar weakness brought on by the United States budget stalemate.

At 1700 AEDT, the local unit was trading at 94.33 US cents, up from 94.26 cents yesterday.

Since 0700 AEDT, the Australian dollar traded between 94.12 US cents and 94.49 cents.

The US government shutdown has entered its second week after Congress failed to come to an agreement on a budget by the end of the financial year.

Late in the morning, new data showed that the NAB business confidence index at its highest since March 2010 and ANZ reported that job advertisements had their first monthly rise for the first time in six months.

CMC Markets sales trader Betty Lam said although there is a focus on the crisis in Washington the local data did capture the market's attention.

"The Australian dollar was quick to react, ascending a tenth of a cent," she said.

The Australian dollar's strength is a largely a reflection of US dollar weakness and the NAB business confidence numbers.

"Continued support for the Australian dollar at this level will be dependent on how much longer the US standoff will last," Ms Lam said.

Key data out in the coming days includes the Westpac consumer sentiment survey on Wednesday and September employment figures out on Thursday.
Source