The Australian dollar jumped today as Asian stocks advanced and nation’s manufacturing expanded, increasing attractiveness of Australia’s currency.
The Manufacturing Index of Australian Industry Group rose from 47.8 to 50.2 in December. A value above 50.0 indicates expansion and Australia’s manufacturing expanded last month for the first time since June. The MSCI Asia Pacific Excluding Japan Index of stocks advanced as much as 1.7 percent.
AUD/USD jumped from 1.0231 to 1.0346 (the highest price since December 8) and AUD/JPY climbed from 78.66 to 79.38 as of 11:05 GMT today.
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