The Australian dollar on Friday rose against most of its major counterparts after China released strong economic data about its imports and exports, Bloomberg reports.
A top Australian trade partner, China said exports rose 5.6 percent in October as compared to the same period in 2012. Imports advanced 7.6 percent, creating a trade surplus higher than $31 billion.
The Australian reports a close scrutiny is focusing on policy of the U.S. Federal Reserve and when the body will slash stimulus measures, which is likely to impact the performance of the Aussie.
"The move came as traders piled out of risky assets on expectations that stronger growth figures for the world's largest economy would imply a timelier Fed Taper, a dangerous prospect given how low (bond) yields are historically," market analyst David de Ferranti with FXCM told The Australian on Friday. "While the upbeat economic growth figures paint an encouraging picture, the decisions taken by the Federal Reserve remain very dependent on the labor market outlook."
The Aussie increased 0.1 percent against the world's reserve currency on Friday and headed toward weekly advances of 0.3 percent against its cross-Pacific rival.
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