The Australian dollar is higher, after US stocks, oil and copper prices gained ground overnight.

At 0635 AEST on Tuesday, the local currency was worth 75.86 US cents, up from 75.08 US cents on Monday.

Wall Street rallied after the United States and China put their trade differences “on hold” to work on a wider agreement, while market confidence was also boosted by the nearly US$28 billion (A$37 billion) worth of merger deals.

One Australian dollar buys 84.19 Japanese yen, from 83.61 yen and 64.32 euro cents, from 64.01 euro cents.

AAP

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