The Australian dollar held steady against its US counterpart and managed to gain on the Japanese yen today even though economic data from Australia was not particularly supportive to the currency.
The Conference Board Leading Index for Australia slipped 0.3 percent in April after showing no change the month before. The House Price Index rose 1.9 percent in the March quarter — not a bad reading by itself, but lower than analysts’ expectations. Yet even with all the disappointing data the Aussie managed to demonstrate resilience, perhaps with the help of the report that showed an increase of China’s manufacturing index.
AUD/USD traded at about 0.7719 as of 10:09 GMT today after opening at 0.7725. AUD/JPY ticked up from 95.32 to 95.44, reaching the session maximum of 95.71 earlier.
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