$A lower on strong US economic data


The Australian dollar is lower on the back of strong consumer confidence and home sales figures in the US.

At 0630 AEST on Wednesday, the local currency was trading at 93.73 US cents, down from 94.08 cents on Tuesday.

Figures released in the US overnight showed that consumer confidence increased for the second straight month in June to its highest level since January 2008, when the US economy was sinking into recession.

Sales of new homes in the US in May hit their highest pace since the market crashed six years ago.