The Australian dollar hit a one-month high as upbeat Chinese trade data eased concern about China’s economy, while the U.S. dollar held above a two-week low after Federal Reserve chief Janet Yellen offered no surprises in her first congressional testimony.
The Aussie dollar rose 0.2 percent to $0.9052. It touched a high of $0.9063, its strongest level since Jan. 13. Giving a lift to the Aussie was upbeat trade data out of China, Australia’s biggest export market.
China’s trade performance zoomed past forecasts in January as import growth hit a six-month high, confounding market expectations that the world’s second-largest economy is mired in a deepening slowdown.
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