The Australian dollar is steady higher this morning as the market awaits any further news on the eurozone debt crisis.
At 0930 AEDT, the Australian dollar was trading at 101.82 US cents, slightly down from 101.89 cents on Thursday.
Since 1700 AEDT, the local unit traded between 101.02 US cents and 102.26 cents.
The Australian dollar started the week at 97.39 US cents and so far has gained more than four US cents since Monday on the back of encouraging news over a resolution to the crisis.
All 17 eurozone countries have now voted in favour of a revamped bailout fund to help nations that are in financial trouble with Slovakia being the last one to approve it on Friday morning, Australian time.
Earlier in the week, German Chancellor Angela Merkel and French President Nicolas Sarkozy vowed to come up with "a lasting, global and quick response to the crisis s before the end of the month".
Westpac New Zealand senior market strategist Imre Speizer said it was a night of consolidation for the Australian dollar.
"It was a big runup and what we've seen last night it's taken a breather until we see some more news out of Europe," he said from Auckland.
"We've had some positive rhetoric out of Europe over the past week and a half, we now need to see something a bit more substantial than just rhetoric.
"Until we see something a bit more detailed, it looks like it's going to be tough to make any more upward moves."
On Friday, China is due to release its September consumer price index (CPI) data the key measure of inflation.
The median market forecasts is for annual inflation to come in at 6.1 per cent.
"If the CPI is well contained, that should not be a negative for markets. In fact, it should be a positive if its too low," Mr Speizer said.
"If that happened, the authorities in China might start stimulating the economy a bit earlier than expected."
