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29.06.201423:16:29UTC+00Aussie firms as greenback weakens

The Australian dollar stays above 94 US cents following a series of disappointing US economic data weakened the US dollar.

On Monday, Aussie was dealing at 94.23 US cents, down from Friday’s 94.36 cents.

The US dollar has been weaker since the disappointing data last week.

US consumer spending, accounting for more than two-thirds of the country's economic growth, climbed around 0.2% in May.

Economic growth data reflected world’s biggest economy tumbled at an annual rate of 2.9% in the 1st quarter this year, the sharpest constriction in five years.

"The US dollar struggled against all major currencies," said David de Garis, Senior Economist at National Australia Bank.

Meanwhile, the Reserve Bank of Australia will announce its interest rate decision on Tuesday and the economic figures including retail sales report is due this week. 



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