Australia’s dollar traded 0.3 percent from the highest in more than two months amid signs economic growth in China is rebounding, boosting the South Pacific nation’s prospects for exports.
The so-called Aussie held gains from last week before Chinese trade figures today, following reports that showed retail sales and industrial production topped economists’ forecasts. New Zealand’s kiwi dollar advanced against most major peers after data showed the nation’s manufacturing volumes rose. The South Pacific currencies touched the highest in more than three weeks against the euro after former Italian Prime Minister Silvio Berlusconi pledged to topple Mario Monti.
“The data from China continues to show improvement and a gradual re-acceleration,” said Peter Dragicevich, a currency economist in Sydney at Commonwealth Bank of Australia. (CBA) “It hasn’t pushed the Aussie or the kiwi too much, but it is providing support to these currencies.”
via Bloomberg
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