Dollar lower despite rising shares THE Australian dollar is still trading lower as weak Chinese economic growth figures continue to weigh on the currency. At 1200 AEST today, the local unit was trading at 103.07 US cents, up from 103.17 cents yesterday. Since 0700 AEST today, the Australian dollar has traded in a tight range between 102.82 US cents and 103.10 cents. CMC Markets sales trader Niall King said the currency is still in negative territory despite the Australian equities and some Asian share markets starting to gain ground. "The Aussie dollar has given way to selling pressure and dipped well under the 103 US cents in early trade," he said. Already on the back foot due to slower Chinese growth figures and a near commodity price capitulation earlier in the week, the recent global equity market sell-off has also been weighing heavily on the Aussie. Global share markets fell for most of the week after China released weak economic growth figures and the international monetary fund downgraded its global growth forecast. However, Mr King said it appears that the Australian share market has shrugged off those concerns. "Additional sluggish data which dragged on Europe and the US overnight has failed to feed through locally with weak manufacturing figures from the Philly Fed clouding the growth picture in the US," he said. Meanwhile, the Australian bond market was largely unchanged at noon. At 1200 AEST today, the June 10-year bond futures contract was trading at 96.810 (implying a yield of 3.190 per cent), level with its local close yesterday. The June three-year bond futures contract was at 97.340 (2.660 per cent), up from 97.320 (2.680 per cent).