The Australian and New Zealand dollars rose on Wednesday after strong Chinese imports data pointed to solid demand for the countries' resources, lifting both currencies to multi-decade highs in trade-weighted terms. Chinese imports from Australia were the highest in eight months in March having climbed 18.4 percent on a year earlier, a boon for export earnings.
The reading sent the Aussie as far as $1.0518, its highest in nearly three months. The Aussie was last at $1.0509, from $1.0484 early, with traders quoting heavy option resistance around $1.0520. The New Zealand dollar was strong at $0.8530, a whisker away from an 18-month peak of $0.8538 touched overnight.
Comments
Comments are closed.