FOREX-Yen eases, Aussie jumps as China data cheers
02/04/2012 23:04 AST Reuters
The safe-haven yen eased on Monday, while the Australian dollar jumped after surprisingly strong Chinese factory activity data eased fears about a hard landing in the world's second biggest economy.
The Australian dollar rose 0.5 percent to $1.0400 having peaked at $1.0470 after a report on Sunday showed activity at big Chinese factories hit an 11-month high in March.
"This is now three months of trend improvement, and is good news for the AUD and commodity currencies in general," said Annette Beacher, head of Asia Pacific research at TDSecurities.
Against the yen, the Aussie climbed to 86.44, pulling well away from last week's trough around 84.60.
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