The Australian dollar is slightly higher, as the US sharemarket bounces back from recent losses made of the US government’s announcement that it will impose trade tariffs.

At 0635 AEDT on Tuesday, the local currency was worth 77.60 US cents, up from 77.51 US cents on Monday.

The three major US stock indexes are up around one per cent.

Westpac’s head of NZ strategy Imre Speizer said markets are becoming more positive.

“A less defensive mood prevailed. US equities extended Friday’s rebound, the S&P500 up 1.1 per cent currently,” he said.

One Australian dollar buys 82.43 Japanese yen, from 81.85 yen and 62.95 euro cents, from 63.21 euro cents.

AAP

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