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Aussie reports further revenues as Caixin China PMI supports

Andora Andrei

Active member
Aussie reports further revenues as Caixin China PMI supports

On Tuesday, the Australian dollar gained further in Asia, as market participants noted a better-than-expected private manufacturing PMI from China in a light regional day with financial markets in Japan unavailable, although tweets from President-elect Donald Trump on North Korea's nuclear program drew attention.

The currency pair AUD/USD reached 0.7220, rising 0.46%, while USD/JPY demonstrated 117.40, descending 0.09% on demand for safe-haven yen.

A further rally in production at Chinese manufacturers backed the higher PMI reading in December. Obviously, the rate of output growth surged to a 71-month peak, with some panelists commenting on stronger underlying demand as well as new client wins.

Overnight, the greenback managed to regain momentum lost during the previous two weeks against a basket of six key currencies on Monday.

During early Asia, the US dollar index rallied 0.37%, hitting 102.75e with many financial markets closed overnight.

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