South Pacific currencies pushed higher on Monday after a private report noted the economy of China demonstrated its top growth in six months, Reuters reports.
A host of the globe's second-largest economy, China also is the top export market for Australia. The HSBC China Purchasing Managers' Index report checked in at 50.8 this month after registering at 49.4 last month. When the metric pushes to 50 or higher, that signifies expansion.
"There has just been a bit of a risk-on play this morning," Head of European Currency Strategy Stephen Gallo with Canadian bank BMO in London told the news source on Monday. "The Aussie, kiwi and Canadian dollar all look wrapped up in that."
The Aussie pushed to its top value since early April against the greenback on Monday.
The Sydney Morning Herald reports the strong Chinese data drove the Aussie toward its highest value this far this year, also noting last week's meeting of policy makers with the U.S. Federal Reserve also benefited the Aussie.
Fed Chair Janet Yellen indicated borrowing costs in the globe's largest economy are likely to remain at all-time lows for at least 12 more months.
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