Australia Markets closed

$A almost unchanged

The Australian dollar is almost unchanged after gains on global sharemarkets helped the currency rebound from an earlier selloff.

At 0630 AEDT on Wednesday, the currency was trading at 104.05 US cents, virtually unchanged from 104.06 US cents on Tuesday.

The currency fell as low as 103.71 US cents on Tuesday night after the Reserve Bank of Australia kept the cash rate on hold at 3.0 per cent but said it had room to cut the rate further if necessary.

But the Australian dollar lifted during the US session early on Wednesday as stocks pushed higher.

Paris's CAC 40 finished its session 0.95 per cent higher while London's FTSE 100 ended 0.58 per cent higher.

In the US, the Dow Jones Industrial Average, the S&P 500 and the NASDAQ were all trading higher at 0630 AEDT.