AUD/USD at 0.9065 Eagerly Awaiting China GDP Report

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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