The Australian dollar is slightly lower as the US dollar flattens out after suffering three consecutive days of falls.

At 0635 AEST on Wednesday, the local currency was worth 76.84 US cents, down from 77.04 US cents on Tuesday.

The major US stock indexes were up over one per cent, after falling down to levels where buying automatically kicks in, and copper prices hit a one-week high shrugging off worries about a trade dispute between China and the US.

However the Australian dollar has come under some pressure from the US dollar, which is steadying after falling for three straight days.

AAP

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