11:35 PM
Vinay Singh
THE Australian dollar is almost half a US cent higher on liquidity action from China's central bank, and ahead of crucial economic news from Spain.
At 12 noon (AEST), the Australian dollar was trading at 103.96 US cents, up from 103.51 cents yesterday.
The local currency fell as low as 103.29 US cents overnight, as the market grew increasingly concerned about the eurozone debt crisis, in the wake of higher bond yields in Spain and rioting in Greece.
Meanwhile, Australian bond futures prices were higher at noon.
The December 10-year bond futures contract was trading at 97.065 (implying a yield of 2.935 per cent), up from 97.035 (2.965 per cent) yesterday.
The December three-year bond futures contract was at 97.640 (2.360 per cent), up from 97.610 (2.390 per cent)
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