The Australian dollar rose from near its weakest level since September 2010 on speculation recent declines have been excessive and before China reports on its second-quarter gross domestic product.
The Aussie gained against all its 16 major peers, paring a drop against the group from late last week, after China’s official Xinhua News Agency corrected a report citing Finance Minister Lou Jiwei as saying the country’s growth target this year is 7 percent, lower than the official goal of 7.5 percent. Gains in the currency were limited before the Reserve Bank of Australia releases minutes of its July policy meeting tomorrow.
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