$A higher after weak US economic data

The Australian dollar is higher after weak US housing data raised the possibility the US Federal Reserve might not start winding back its economic stimulus in the coming months.At 1200 AEST on Monday, the local unit was trading at 90.29 US cents, up from 90.03 cents on Friday.Data from the US Commerce Department on Friday showed new home sales for July plunged by 13.4 per cent, leading investors …

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