Dollar back over 96 US cents after debt crisis deal

THE Australian dollar has surged above 96 US cents for the first time since June amid ongoing jitters on markets around the world about the durability of a deal to end the debt crisis in Washington.

The local currency climbed as high as 96.4 US cents overnight, as the greenback lost ground against all the major currencies.

At 9:30am (AEST), it was buying 96.25 US cents.

Yesterday's debt deal boosted markets early in the trading session on Wall Street, before some weak sales and earnings news from two major US companies weighed on sentiment.

Read more at ABC news online.