The Australian dollar has hit a one-week low against a strengthening US dollar after comments from Donald Trump’s new economic advisor Larry Kudlow that the president favours a stronger US dollar.

At 0635 AEDT on Friday, the local currency was worth 77.99 US cents, down from 78.68 US cents on Thursday.

Earlier on Friday morning the Aussie dollar dropped as low as 77.96 US cents..

Westpac head of NZ strategy Imre Speizer said commodity currencies, such as the Australian dollar were the worst performers overnight.

AAP

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