The Australian dollar on Monday held on to its advance from last week against the world's reserve currency after China released economic data noting manufacturing grew last month, according to Bloomberg.
As Australia's top partner for trade and commerce, China released data noting manufacturing registered at 50.5 in January. The Reserve Bank of Australia is set to meet on Tuesday.
"There was positive sentiment that the official Chinese PMI didn't come in worse than expected," senior currency strategist Emma Lawson with National Australia Bank told The Sydney Morning Herald on Monday. "I think the Aussie has been range-trading over the last couple of days. It's come off a little bit now but there are a lot of big risk events this week."
The Aussie moderately rose 0.1 percent against the Japanese yen as the trade week began. It retained the 0.8 percent weekly rise from last week against the greenback on Monday.
Prior to expanding last month, manufacturing in China had been at its lowest level in six months, according to The Sydney Morning Herald.
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