BLBG:Australian Dollar Reverses Decline After China Economic Data; Kiwi Gains
The Australian dollar climbed, erasing earlier declines, after data showed China’s inflation accelerated to the fastest pace in almost three years and industrial output grew more than economists forecast.
The so-called Aussie gained to $1.0620 as of 12:10 p.m. in Sydney from $1.0602 in New York yesterday and as low as $1.0569 earlier today. New Zealand’s dollar rose 0.3 percent to 81.78 U.S. cents.
To contact the reporter on this story: Yoshiaki Nohara in Tokyo at ynohara1@bloomberg.net
To contact the editor responsible for this story: Rocky Swift at rswift5@bloomberg.net
