The dollars of Australia and New Zealand avoided volatility and performed strongly on Wednesday, drawing influence from uplifting economic data regarding manufacturing in China, Europe and the U.S., according to Bloomberg.
Australian prime minister Julia Girard said on Wednesday during a speaking engagement that the Aussie's strength will remain for years due to global unrest and crises establishing it as a safe haven, according to Agence France-Presse.
"It's a striking development in our economic history that in a period of global uncertainty, the Australian currency is holding its value," she said during the Australia-Israel Chamber of Commerce lunch in Melbourne. "What is certain from all of this is our dollar is likely to remain relatively high for years to come."
China's purchasing managers' index for manufacturing increased to 50.5 in January after registering at 50.3 during the month prior. Markit Economics in Europe indicated the manufacturing metric rose to 48.8 in January after registering at 46.9 during December.
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