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Aussie climbs on China PMI

Currencies Direct June 23rd 2014 - < 1 minute read

Australia's dollar surged to a two-and-a-half month high against its US counterpart on Monday (23 June) after the release of upbeat Chinese manufacturing data, while New Zealand's dollar also climbed on the figures.

AUD/USD advanced to 0.9445 overnight, the strongest for the exchange rate since early April. The Aussie was also up against the pound as GBP/AUD slid to 1.8050.

China's manufacturing sector expanded for the first time in six months in June, according to a closely-watched purchasing managers index. China is Australia's largest trading partner and upbeat data from the world's second largest economy is usually supportive of the Aussie.

New Zealand's dollar also rose, with NZD/USD up at 0.8749, its highest in a month, while GBP/NZD slid 0.4% to 1.9484.

Elsewhere, Sterling remained supported against the dollar, with GBP/USD steady at 1.7030.

The pound was also steady against the euro as EUR/GBP edged slightly lower at 0.7982.

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Currencies Direct

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