The Australian dollar halted its rally versus its major rivals with the exception of the US dollar, against which the Aussie continued to rise. Today, moves of the Australian currency were driven mainly by news from China.
Bunch of macroeconomic reports was released from China during the current trading session, including data on industrial production, fixed asset investment, and retail sales. All of them showed slower growth than in the previous reporting period, suggesting that China’s economic boom is still cooling. As China is Australia’s biggest trading partner, this news was bad for the Australian currency.
AUD/USD continued to move higher, rising from 0.7697 to 0.7713 as of 13:58 GMT today, though earlier the currency pair had fallen to 0.7669. Meanwhile, AUD/JPY went down from 78.48 to 77.96.
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