Australia’s dollar climbed from a seven-month low as an industry report showed Chinese manufacturing grew. The yen strengthened as the U.S. conducted airstrikes in Syria.
The Aussie advanced against all its 31 major peers after the China preliminary Purchasing Managers Index from HSBC Holdings Plc and Markit Economics topped analysts’ estimates for this month, suggesting targeted stimulus is helping the economy in Australia’s largest trading partner withstand a property slump. The euro halted a gain from yesterday before data that may show European manufacturing growth slowed, while a U.S. report will probably show factory expansion accelerated.
Australia’s dollar strengthened 0.2 percent to 88.94 U.S. cents as of 10:01 a.m. in Singapore from 88.73 yesterday, when it touched 88.53 cents, its lowest level since Feb. 4. The nation’s 10-year (GACGB10) bond yield has fallen 14 basis points this week to 3.58 percent.