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The Aussie Dollar Rises Near Two Week Highs on China PMI Data

Australia’s dollar traded near its strongest level in two weeks after an improvement in manufacturing gauges in China, the South Pacific nation’s biggest trading partner.

The so-called Aussie rose for a third day against the yen ahead of next week’s policy decision by the Reserve Bank of Australia. Demand for the Australian and New Zealand dollars was limited as investors awaited the last jobs report in the U.S. before the presidential election.

“We’ve been seeing a pickup in the Chinese economy,” said Takuya Kawabata, an analyst at Gaitame.com Research Institute Ltd. in Tokyo, a unit of Japan’s largest currency margin company. “The improved sentiment about China can create upward pressure for the Aussie.”

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